Massive wave of Greek home foreclosures nears


The supposedly radical government of Greek Prime Minister Alexis Tsipras swept into power in January 2015 on a promise to end the austerity and debt slavery imposed by the European Commission, the European Central Bank, and the International Monetary Fund.

But when push came to shove, Tsipras knuckled under, and yet more jobs were cut, more salaries lowered, more pensions slashed, health care reduced, and still more Greek national assets were sold off the sate the banksters of Northern Europe [read Germany].

And now, with austerity biting deeper, three-quarters of a million Greeks are about to lose their homes and businesses.

From To Vima:

About one and a half million tax payers may face foreclosures from tax authorities for debts over 500 euros. Half of them – 755,806 – are expected to face mandatory liquidation measures, namely property and bank accounts seized.

At the end of June the tax authorities announced that 4,003,372 have tax debts. The General Secretariat of Public Revenue may enforce mandatory liquidation measures on 1,492,088 of them, given that many debtors may either not have assets or may be bankrupt.

Tax debts amount to almost 90 billion euros, which is about half of the country’s gross domestic product. The new overdue debts generated in 2016 amount to 6.8 billion euros, with 5.956 billion euros being unpaid taxes. In June alone 1.2 billion euros worth of debts were generated, with 903 million euros being unpaid taxes.

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