Crisis: Greece; over 8 in 10 are unable to repay loans

86% in trouble with mortgage and consumer credit payments

27 February, 16:14

A woman carries bags of goods as she enters the metro station at the main Omonia square in Athens, Greece
A woman carries bags of goods as she enters the metro station at the main Omonia square in Athens, Greece

    

(ANSAmed) – ATHENS, FEBRUARY 27 – At least eight in every 10 citizens who have taken out a loan are having trouble with repayment, while the problem is greater among households with children and those from the lower social strata, as daily Kathimerini reports citing a survey conducted by Public Issue for the 2012 period.     Over three in four households (78%) said they are having problems in paying their installments to banks, while 6% say they are totally unable to do so. Given that there are some 1.5 million households in Greece with debts to banks, the survey found, this means that about 1.2 million families are unable to pay installments on time. This total of 84% is far higher than the respective rate of 60% in 2009, before the country entered the fiscal streamlining process. Ninety percent of corporate loans are facing servicing problems while 86% of consumer loans are not paid on time. Regarding house repair loans, 82% are having trouble with their repayments. Surprisingly, 68% of borrowers say they have not attempted to have their loans restructured, against just 29% who said they have secured a settlement and 2% who tried but failed. (ANSAmed).

ALL RIGHTS RESERVED © Copyright ANSA

 

http://www.ansamed.info/ansamed/en/news/sections/economics/2013/02/27/Crisis-Greece-8-10-unable-repay-loans_8319668.html



Categories: Societal

Tags: , , , , , , ,

%d bloggers like this: