Greek Tax Offices Get Online-Auction Instructions

Greek tax offices have been given instructions for online real-estate auctions which will take place from May 1.

A circular which summarizes changes voted upon in parliament last month also issues provisions on how the controversial auctions should be conducted.

They generally deal with posting and updating property details online, as well as shipping relevant documents plus harmonizing the new system with existing codes of practice.

Such auctions have been switched to an online format to avoid confrontations with protesters and the emotive issue has continued to dog Greece’s government, overshadowing moves towards exiting the country’s bailout program.

The government has committed to 10,000 real estate auctions in 2018 and 40,000 auctions per year over the next three years, from 2019 to 2021.

Greek police have already said they do not want to be deployed to protect auctions of distressed properties.

However, European Central Bank chief, Mario Draghi, replying to a letter from Greek MEP Nikolaos Chountis last month, said the controversial auctions are “expected to create the appropriate incentives for borrowers and lenders to step up the process of loan restructuring”.

However, “frequent disruptions and cancellations” to the hotly disputed auctions in recent years has meant the Greek authorities had to “ensure full geographical coverage across Greece”.


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