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A greek house protected under a glass dome

The legal protection of the primary residence in Greece in the years of the financial crisis

The Greek financial crisis, which was officially acknowledged by the announcement of Prime Minister George Papandreou in Kastelorizo on April 23, 2010 to appeal to the European support mechanism and was ratified on May 6, 2010 with the adoption of the first memorandum by the Greek Parliament, made it imperative to protect the family home from auction and liquidation to pay off the creditors of Greek households, the vast majority of which are banks and credit institutions.

Until that time a beautified situation of security and complacency was cultivated by the political system, according to which the Greek state and particularly the banking sector were both sufficiently armoured to withstand the global shocks, caused by the bankruptcy of Lehman Brothers on the 15th of September 2008. However, for those in the know in law and accounting firms of major Greek cities, who had contact with a large part of society and had a more complete picture of the economic scene, it was evident that our country was not spared. The tap of funding to businesses for investments and to individuals for consumer loans but also for house purchase had already started to close in 2009. Unemployment was increasing slowly but steadily, decreasing the household income of those employed in the private sector, with the direct consequence being their inability to meet their loan obligations. The banks, reacting spasmodically in the unexpected situations proceeded in foreclosures and auctions of the assets of the borrowers, even of the sole residence, for a few thousand euros.

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Inhabitants per lawyer in Europe

Overpopulation of lawyers in Greece and rest of Europe: myths vs reality

As the economic crisis in Greece deepens, also affecting, among other professional groups, the lawyers, there are increasing voices, which put the blame for this situation on their particularly high number in relation to the general population. The proponents of this view mostly request for the tightening of criteria for the granting of license to practice the legal profession, and the conditions of its conservation. At the same time, speculations are intensifying that Greece has the most lawyers in the world, that in all the other countries lawyers are much fewer and hence better paid, as the prices of services are maintained at high levels due to reduced competition.

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Dietary supplements notification before the Greek National Organization of Medicines

Establish a local entity in Greece!

Asian companies, export your products to Greece and the EU!

Athanasios Rozou & Associates Law Office

Address: Diamanti Olympiou 16, 5th floor, P.C. 54625, Thessaloniki, Greece

Land line: (+30) 2310280874, Mobile: (+30) 6955097875

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