Planned auctions of foreclosed property in Greece delayed

Markets Associated Press

Public notaries in Greece's capital of Athens have called off auctions of foreclosed properties, citing disruptions from security measures for a visit by Turkish President Recep Tayyip Erdogan.

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The association of Athens notaries said Tuesday that traffic restrictions and other police measures for Erdogan's visit could prevent notaries reaching the courts on time.

The foreclosure auctions resumed last week after a months-long suspension, and then stopped again after protesters clashed with police in an Athens court. Wednesday's auctions would have been the first since then.

Erdogan is due in Athens on Thursday.

Greece's left-led government had pledged to provide adequate police protection to stop protesters from disrupting auctions of foreclosed property. The sales are a key part of Greece's efforts, under its international bailout program, to boost its bad loan-plagued banks.