European Commission: The protection of borrowers in Greece is abusive

Economy Commissioner Olli Rehn’s spokesman Simon O'Connor described the protection of borrowers for the first residence in Greece as abusive.

In his statement today, O'Connor said that one of the essential points to be agreed between the Greek government and the Troika is the protection of the weakest economic families.

"We did not say we want to throw the people in the streets, on the contrary, the Commission wants to focus legislation only in those groups who have a real problem," he said, adding that the issue should be set so as to leave no chances of abuse.

He also said that at present a state of general abuse looms over the moratorium of auctions in Greece, so the banks can not stabilize their position to recover and consequently lend to the real economy, thus enabling the country to return to sustainable growth.

He also noted that the European Commission is negotiating with the Greek authorities to focus on the protection of the law only to those groups of people that have a real need.

During the regular update of the Commission to the press in Brussels, O'Connor also reiterated that the Troika will not return in Athens before the Eurogroup in December 9, and that for the time being the lenders’ representatives will remain in their seats and talks with the Greek authorities will continue from a distance.

He also reiterated that there has been progress in the talks, but there are still "open issues".