PM: Socially weaker strata to be protected from home foreclosures

Home owners with defaulted mortgages who cannot pay their debts because of the economic crisis will not lose their homes, Prime Minister Antonis Samaras said on Thursday, following a meeting with government Vice President and Foreign Minister Evangelos Venizelos, Finance Minister Yannis Stournaras and Development Minister Costis Hatzidakis.

"The main homes of socially weak citizens and of those who are proven unable to service their debts because of the crisis will be absolutely protected," Samaras said. "This is non-negotiable. Period," he added.

The PM said that "the government is considering a series of regulations that will protect economically weaker strata, prevent abusive behaviour and protect mortgage credit, to the benefit of all Greeks."

Following the meeting, Venizelos said in a written statement that "the issue is not the foreclosures, but that mortgage credit start operating again to the benefit of the whole economy."

He also reiterated the PM's statements of weaker strata being protected from losing their homes and said available data showed "there is no problem" and "there are very few people taking advantage of the situation, who are really not in real need but hide behind those who need to be protected."