Greece Overturns Debt Holding Account Laws
In a Council of State court ruling yesterday, Greek state and insurance funds can now confiscate bank account deposits with debts, without alerting their holders.
This irrevocable mandate overturned previous laws. As reported by ANA-MPA, the court system defended its stance and stated, "...had the owner been notified of the measure, he would rush to withdraw from the third party (the bank) the funds" or "would transfer to another party his assets, making it therefore impossible to satisfy the public's demands for satisfaction from these assets".
The Greek court said that withholding notification doesn't breach constitutional laws. The law enforcers claimed, "The debtor knows directly when his debt is past the payment deadline...the introduction of obligatory measures against him to collect the debt is possible from the very next day of the deadline passed".
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