We’re not Irish - Greek courts start wiping out all personal debts without Bankruptcy

[Neutron]

Think filing for bankruptcy is the only way to get debt discharge? Think again, at least in Greece. While previously we have reported that Greek courts had written off "untenable" debts of unemployed Greeks owed to local banks, Kathimerini describes a landmark case which may have profound implications for the indebted country, in which a fully employed woman has had the bulk of her debt written off.

From Kathimerini: "In what could turn out to be a significant ruling for Greeks suffering from the economic crisis, a court in Hania, Crete, has become the first in the country to order that the majority of the debt owed to banks by someone still in full employment be wiped out. Sunday’s Kathimerini understands that the Justice of the Peace Court in Hania based its decision on a 2010 law that allows judges to give protection to people struggling to meet their financial commitments.

Until now, the legislation has only been used to give debt relief to unemployed people or those with no substantial income." This means that virtually every indebted person in Greece, regardless of employment status will rush into court rooms, demanding equitable treatment and a similar debt write down.

In Landmark Case, Greek Court Writes Off Employed Bank Customer's Debt | ZeroHedge


Of course we are told we are better of not being Greece so we are told by FG and Labour ministers. Greece not only has had its national debt start to be wrote down it now seems all personal debt regardless of status is being wrote off also.

No need for bankruptcy laws over in Greece, their courts understand the people have been mugged by the banks and EU for too long now.

But of course rest assured Irish people under the great Kenny will pay back all debt and be thankful we are not Greeks.

[ruserious]

I'm not a grammar nazi, but really?

[paulp]

In Landmark Case, Greek Court Writes Off Employed Bank Customer's Debt | ZeroHedge


Of course we are told we sare better of not being Greece so we are told by FG and Labour ministers. Greece not only has its national debts start to be wrote down it now appears all personal debt regardless of status is being wrote off also.

No need for bankruptcy laws over in Greece their courts realise the people have been mugged by the banks and EU.

But of course rest assured Irish people under the great Kenny we will pay back all debt and be thankful we are not Greeks.

Hmm, what will this do for the books of the Greek banks?

[Crazy horse 6]

Irish people are gullable fools. We are nothing like the Greeks i'm afraid.

[Bill]

Hmm, what will this do for the books of the Greek banks?

but with books, like

[Neutron]

Hmm, what will this do for the books of the Greek banks?

Are they not underwrote by the EU?

[EUrJokingMeRight]

Greece, the birthplace of democracy, still understands the important foundations of a society. A people with choice and free from bondage. Unlike the Irish establishment which seeks to enslave its citizenry because we were bullied once by Britain. Instead of allowing a free republic to flourish they erode our freedoms at every turn. Worse than Britain at this stage imho. Pathetic really.
This is a good development for the people of Greece.

[Gealt]

I've had a really good time for 12 years, 3 holidays abroad a y ear, odd w/e Paris, Berlin etc, new cars, holiday appt in Galway & now the good news the banks will write off my debt.
I wonder who picks up the banks' tab? Oh yeah, you do.

[EUrJokingMeRight]

I've had a really good time for 12 years, 3 holidays abroad a y ear, odd w/e Paris, Berlin etc, new cars, holiday appt in Galway & now the good news the banks will write off my debt.
I wonder who picks up the banks' tab? Oh yeah, you do.

Maybe you do not understand debt write off? It is quite straightforward. Once it is written off it is removed from the balance sheet.

[nespot.a]

Greece, the birthplace of democracy, still understands the important foundations of a society. A people with choice and free from bondage. Unlike the Irish establishment which seeks to enslave its citizenry because we were bullied once by Britain. Instead of allowing a free republic to flourish they erode our freedoms at every turn. Worse than Britain at this stage imho. Pathetic really.
This is a good development for the people of Greece.

This is NOT a good development for the people of Greece.
It's one thing to not pay Anglo style dept that people did not borrow,but how is it right to not pay debt that you did in fact borrow, just because you do not want to?
Who do they think is going to pay it for them because somebody has to. Chances are it shall be us, the rest of the Eurozone who shall end up having to pay.

Also, do you think that anybody shall ever loan money to those people again?