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debts

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Bankruptcy and stigma

Bankruptcy and stigma The ability of a citizen to leave behind his debts by going bankrupt can work beneficially, which is proven by the impact that the relevant, recent law has had. Bankruptcy, when it results from true inability to pay, can also be a second chance at a fresh start and should not be […]

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How Interwetten has unpaid debts in Greek market exceeding 1.8mln€

How Interwetten has unpaid debts in Greek market exceeding 1.8mln€ First off, two telling quotes: “As a reliable sports betting provider, we focus our engagements and collaborations in sports with long-term partnerships that enable maximum entertainment. We are proud that we have a multi-year partnership with the NHL – the best ice hockey league in the […]

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Debts to state get written off

Debts to state get written off The Independent Authority for Public Revenue (AADE) is writing off the debts to the state for about 100,000 debtors who had entered the provisions of the Katseli law. They are debtors who arranged their debts both to the banks and to the state and achieved debt cancellation, which the […]

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Tax rebates to be automatic

Tax rebates to be automatic The tax administration is resorting to automatic procedures to pay off state debts faster, with the aim of bringing the pending tax refunds to taxpayers down to zero. Today, outstanding tax rebates amount to 792 million euros, of which €286 million is more than 90 days old, and the rest […]

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Subsidies for drug firms with debts to health system

Subsidies for drug firms with debts to health system The government has approved 53 investment plans from pharmaceutical firms that owe payments for the public health service’s medical expenditures. The investments, budgeted at €519. million, will be financed to the tune of €246.8 million from the EU’s Recovery and Resilience Facility. Companies’ debts will be […]

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Pension fund debts are rising fast

Pension fund debts are rising fast Debts to Greece’s Single Social Security Agency, EFKA, are rising at a fast clip, forcing the government to announce that the self-employed, including farmers, with relatively few debts will be able to get a pension; additionally, all the debts which are more than a decade old are canceled. Total […]

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Fair treatment

Fair treatment Laws must not “imprison” debtors in their own debts but rather provide them with a way out of their conundrum.  This is exactly the point of the forthcoming bill by the Employment Ministry on the self-employed who have applied for pensions while having outstanding debts to the state. However, any such provision must […]

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Relief for Greeks with social security debts

Relief for Greeks with social security debts Nearly 100,000 individuals in arrears of their payments to EFKA, the national social security agency, will be provided with a more favorable repayment schedule, the Employment Ministry says. They will be able to settle their debts in 24 installments, instead of the current 12. But there are another […]

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Food service between the Scylla of debts and the Charybdis of inflation

Food service between the Scylla of debts and the Charybdis of inflation The food service sector is being strangled as companies are struggling to keep a reign on prices as energy and raw materials have risen dramatically. However, possibilities of achieving better prices are narrow since price changes are a daily phenomenon for suppliers as […]

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Transparency on debts

Transparency on debts The Independent Authority for Public Revenue (AADE) and the EFKA social security fund are warning 25,000 debtors who owe the two state bodies more than 150,000 euros that they will publish their names. However, this correct measure excludes legal entities from the narrow and wider public sector. In other words, it excludes […]

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Athens pays off all its dues to the IMF

Athens pays off all its dues to the IMF Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the Finance Minister said Monday. Christos Staikouras hailed the payment as “a very positive development” that would mean significant savings in debt servicing costs. […]

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Greece completes early repayment of bailout loans to IMF

Greece completes early repayment of bailout loans to IMF Greece has repaid its outstanding debts dating back to its financial crisis to the International Monetary Fund, two years ahead of schedule, the Finance Minister said Monday. Christos Staikouras hailed the payment as “a very positive development” that would mean significant savings in debt servicing costs. […]

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Initiatives to collect overdue debts of €3 bln to municipalities

Initiatives to collect overdue debts of €3 bln to municipalities With the Russian invasion of Ukraine testing the resilience of the Greek economy on all levels, the government plans to introduce a series of initiatives to shield the economy, in the short and long term, starting with local authorities. More specifically, among these initiatives is […]

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Energy retailers get ultimatum to pay debts

Energy retailers get ultimatum to pay debts Seeking to put an end to the spiral of outstanding debts in the electricity market, the government appears determined to prevent the very real threat of companies in the sector declaring bankruptcy and the disruption this could cause in the midst of an energy crisis.  Indicatively, at the […]

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Vicious cycle of power debts

Vicious cycle of power debts Unpaid debts in the electricity market have multiple effects, within itself and well beyond it, with the Regulatory Authority for Energy (RAE) striving to contain the damage that the energy hikes have inflicted on the operation of the entire power industry and the economy in general. For example, power suppliers […]

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Debts to state grew in July at slower pace

Debts to state grew in July at slower pace Private sector arrears to the state continued growing but at a slower rate in July, with the number of debtors to the tax agency totaling 3.5 million, official data showed Monday. A report by the Independent Authority for Public Revenue said that new tax arrears to […]

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Code on how to settle default debts

Code on how to settle default debts The Bank of Greece has developed a new code of conduct binding banks and debt collection agencies in their communication with debtors. The new code is coupled with the joint development of a special online debt management platform by the General Secretariat of Information Systems and the Special […]

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PPC to cancel energy debts of households destroyed by fire in Greece

PPC to cancel energy debts of households destroyed by fire in Greece The Public Power Corporation (PPC) will cancel certain charges on bills of households destroyed by recent fires, it said on Tuesday, according to ANA. It added that it expects the write-off to be completed by the end of the year, and noted this […]

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Amendment writes off academics’ debts to univesities

Amendment writes off academics’ debts to univesities Debts run up by academics with the institutions where they are employed will be written off, according to an amendment submitted to Parliament on Thursday for a vote by the Education Ministry. The proposed regulation “seeks to resolve the difficulties of debt collection of faculty members over the […]

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Avalanche of dues to come from January

Avalanche of dues to come from January Debts of 35-40 billion euros to banks, the tax authorities and the social security funds that were frozen during the lockdowns will gradually come due for payment next year; that will be one of the biggest challenges of the post-pandemic period – i.e. the payment of those huge […]

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Plan sees more tranches for repaying debts to state

Plan sees more tranches for repaying debts to state Finance Minister Christos Staikouras on Thursday unveiled a plan expanding the number of tranches individuals, self-employed and legal entities impacted by the coronavirus pandemic from March 2020 until the present will be allowed to repay their debts to the state. The finance minister said the plan […]

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Repayment of pandemic debts

Repayment of pandemic debts More than 2 million citizens and corporations will get a chance to rearrange their debts to the tax authorities and the social security funds that they ran up during the pandemic in the new payment scheme the government plans to offer, sources say. It will also provide for the repayment of […]

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Plan for new state debts is due next week

Plan for new state debts is due next week The final decisions on the new settlement scheme for debts created during the pandemic will be made late next week. The staff-level talks with the creditors have been completed, Finance Minister Christos Staikouras told Skai Radio on Friday, adding that there was good cooperation between the […]

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Staikouras confirms plan for pandemic debts

Staikouras confirms plan for pandemic debts Finance Minister Christos Staikouras announced a new favorable regulation for the debts of the pandemic during an interview on Open TV on Saturday. As he said, the relevant discussion has already started with the institutions in the context of the 11th post-bailout assessment, while this week the issue will […]

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New payment plan for dues

New payment plan for dues The Finance Ministry has processed a new plan for the payment of debts created during the pandemic that will be presented to the creditors’ staff in the context of the 11th post-bailout assessment. Talks are expected to be completed next week and then the definitive plan will be announced, for […]

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