Economy · Greece

New Aid Package for 1.5 Million Debtors Announced

4 sourcesFirst reported 1 month agoUpdated 1 month ago

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A new bill allows 1.5 million debtors to restructure overdue debts in 72 installments.
The measures aim to address private debt exceeding 240 billion euros.
Changes include adjustments to out-of-court settlements, primary residence protections, and account seizures.

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The Greek government has announced a new set of measures aimed at assisting approximately 1.5 million debtors struggling with overdue debts, which have reached over €240 billion in total. The measures, initiated by the Ministry of National Economy, include the introduction of a repayment plan allowing debtors to settle outstanding debts in up to 72 installments. This initiative is part of a broader strategy to address the rising private debt crisis in the country.

In addition to the installment plan, the measures will incorporate six significant changes aimed at improving the extrajudicial settlement process, protecting primary residences from seizure, and providing safeguards against the confiscation of bank accounts. The government plans to implement these interventions gradually over the summer and into the autumn, seeking to ease financial burdens on households and businesses alike. The overall goal is to provide a fresh start for those facing financial difficulties and to foster a more manageable debt environment.

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New Aid Package for 1.5 Million Debtors Announced

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