Greece can allow foreclosures to meet creditors' requirements

Note: This section contains information in English only.
Source: Bloomberg
© Scanpix/Reuters
Greek government is planning to allow foreclosures in the country after five years of ban on them to meet creditors' demands. In 2008 the government forbade banks to take away mortgaged houses from those who could not pay for their debts. Nowadays, at least 29% of Greeks cannot pay for their mortgages and this number is rising every year since the beginning of the financial crisis.
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