With effective measures to tackle the "red-loans" to put very high on the current agenda of the Eurogroup, since it will put the bases of the agreement to complete the banking union, the launch of electronic auctions in Greece is closer than ever.
The operation of the electronic platform for auctions will begin on November 29 after numerous delays that have caused and response of lenders, as it is one of the thorns in the Third Assessment.
According to the operational objectives agreed banks and the SSM, the balance of non-performing loans (NPLs) should be reduced from 72.8 today (June 2017) to 65.9 bn. Euros at the end of the year, to 53 billion. at the end of 2018 and 40.2 bn. euros at the end of 2019.
Similarly, non-performing credit exposures (NPEs) should be reduced from 101.8 billion. Today the euro 98.2 bn. By the end of the year, to 83.3 bn. At the end of 2018 to 66.7 billion. EUR at the end of 2019.
In any case, however, the banks want to ensure that the thousands of real estate auction will not lead to "dive" prices, which would impact on bank balance sheets.
The Greek government pledged in the first round of negotiation that electronic property auctions will start at the end of the month and it is assumed that the issue will be the focus of the questions will probably accept Finance Minister Euclid Tsakalotos the sidelines of today's Eurogroup.
At the same time coming 'tsunami' estate auctions from the tax office in order to "catch" the tax revenue of 46.85 billion. Euros have been budgeted for this year. One of the basic obligations mnimoniakes pending is to conduct auctions in commercial property values.
Given that the real estate market has collapsed in recent years and the market values are far from the objective even after corrections, auctions will not be declared after rough potential bidders will be less money.
The lowest price that will be received may not be enough to cover the debts of borrowers, leading borrowers to find not only lose their properties and continue to have.
The operation of the electronic platform for auctions will begin on November 29 after numerous delays that have caused and response of lenders, as it is one of the thorns in the Third Assessment.
According to the operational objectives agreed banks and the SSM, the balance of non-performing loans (NPLs) should be reduced from 72.8 today (June 2017) to 65.9 bn. Euros at the end of the year, to 53 billion. at the end of 2018 and 40.2 bn. euros at the end of 2019.
Similarly, non-performing credit exposures (NPEs) should be reduced from 101.8 billion. Today the euro 98.2 bn. By the end of the year, to 83.3 bn. At the end of 2018 to 66.7 billion. EUR at the end of 2019.
In any case, however, the banks want to ensure that the thousands of real estate auction will not lead to "dive" prices, which would impact on bank balance sheets.
The Greek government pledged in the first round of negotiation that electronic property auctions will start at the end of the month and it is assumed that the issue will be the focus of the questions will probably accept Finance Minister Euclid Tsakalotos the sidelines of today's Eurogroup.
At the same time coming 'tsunami' estate auctions from the tax office in order to "catch" the tax revenue of 46.85 billion. Euros have been budgeted for this year. One of the basic obligations mnimoniakes pending is to conduct auctions in commercial property values.
Given that the real estate market has collapsed in recent years and the market values are far from the objective even after corrections, auctions will not be declared after rough potential bidders will be less money.
The lowest price that will be received may not be enough to cover the debts of borrowers, leading borrowers to find not only lose their properties and continue to have.
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