Clashes break out in Greece over foreclosures

Riot police detain a protester during clashes in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP)
Riot police detain a protester during clashes in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP)
Riot police detain a protester during clashes in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP, )
Riot police detain a protester during clashes in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP)
Riot police detain a protester during clashes in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP)
Riot police clash with protesters in central Athens on Wednesday, March 14, 2018. Protesters oppose the auction of foreclosed properties, a key demand of Greece's bailout creditors. (Yannis Liakos/InTime News via AP)

ATHENS, Greece — Five people were detained Wednesday during clashes between riot police and protesters attempting to disrupt a central Athens auction of foreclosed properties.

Left-wing activists have stepped up protests in recent weeks against online auctions as the government remains under pressure from bailout lenders to speed up the process and ease the strain on banks stemming from a huge backlog of nonperforming loans.

The auctions are required as part of the country's international bailout, which is due to end in August. Creditors have also promised to deliver some debt relief for Greece if it fulfils all the conditions of the bailout.

The Greek government has promised to provide creditors a detailed plan next month of post-program reforms as part of the agreement to improve repayment terms. But creditors still disagree over the terms of Greek debt relief.

In Athens, government spokesman Dimitris Tzanakopoulos insisted the government was determined to make a full return to markets this year.

Earlier, Greece raised 812.5 million euros ($1 billion) in a 12-month treasury bill auction. The Public Debt Management Agency said the T-bills were auctioned at a yield of 1.25 percent with the target sum of 625 million euros ($772.8 million) three times oversubscribed.

Greece has relied on international bailout loans since 2010 through successive programs. Since that year, it has twice tapped bond markets for longer-term loans, while maintaining regular three- and six-month T-bill auctions.

People also read these

Yellen suggests rate hike is coming but offers no timetable

Aug 26, 2016

Yellen says 'the case for an increase' in rates has strengthened but offers no timetable

Iowa at center of debate over 'shadow insurance' deals

Aug 30, 2016

Life insurance companies are setting up "shadow insurers" to take on some of their liabilities and free up some of their reserves

Global stocks rise as investors weigh future of US rates

Aug 30, 2016

Global stock markets mostly rose on Tuesday as investors weighed the possibility and timing of another U.S. interest rate increase this year

Subscribe to our newsletter!

Your Name

Your Email Address