Economy · Greece
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14 July
Details on the 72-installment extrajudicial mechanism and eligibility criteria were provided by tax authorities.
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Generated by AI from the 4 sources below · always verify with the originals
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AI-synthesised from 4 sources · no editorial bias
The Greek Ministry of National Economy and Finance announced the activation of new measures aimed at restructuring debts, introducing a plan that allows debtors to settle their outstanding obligations in 72 installments. This initiative targets debts owed to public entities, social security funds, and financial institutions. The move is part of a broader reform designed to address the rising challenge of personal debt, particularly concerning non-performing loans.
The changes include updates to the out-of-court settlement mechanism, which will streamline the process for those eligible to participate. Specific details about which individuals or entities can join this restructuring process, as well as the requirements they must meet, have been outlined by the Independent Authority for Public Revenue (AADE) and other relevant parties. Additionally, the new regulations aim to provide enhanced protection for primary residences, helping to safeguard the homes of debtors facing financial distress.
Key dates for the implementation of these measures have been set, with expectations that they will notably impact households and businesses struggling to manage their financial obligations effectively. The government remains focused on reducing the burden of personal debt while fostering economic recovery through various financial support mechanisms.
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