A draft bill reinstituting a legal framework for the protection of primary residences in Greece – from creditors – was passed by a wide margin in Parliament on Friday afternoon, fulfilling a major “prior action” demanded by European creditors in the post-bailout period.
Specifically, in a roll call vote, out of 231 MPs present – out of a total of 300 – 194 voted in favor, with 33 voting against, and four declaring “present”.
Reducing “bad debt” held by Greece’s systemic banks, including non-performing mortgages and loans guaranteed with property, is a major challenge and goal in the post-bailout period.
