Greece: Insolvency overhaul during pandemic triggers spat
ATHENS, Greece (AP) — The Greek government’s opposition is trying to block new insolvency legislation that it argues would leave vulnerable mortgage holders more exposed to repossession during the pandemic. The government is overhauling its bankruptcy regulations, replacing a protection scheme for distressed loans on primary homes, which expired in July, with a state subsidy program. The conservative government says the proposed changes would be better targeted and would ease pressure on banks. The opposition says it would put more mortgage holders at risk. To halt the move, the opposition has brought a motion of censure against the finance minister.