Agreement reached on out-of-court settlement for business debts

24 October 2016
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The Greek government and institutions have reportedly reached an agreement ‘in principle’ for the creation of a legislative framework for the out-of-court settlement of debts accumulated by businesses and self-employed, in a meeting carried out on Sunday.

According to the reports, the Ministers of Finance Euclid Tsakalotos and Economy Giorgos Stathakis presented the main points of the draft bill whose eligibility criteria and time frames are still being debated with the institutions. Both two sides are scheduled to meet again on Wednesday afternoon to discuss the issue.

Following the meeting on Sunday, the Economy Minister commented that the government aims to include as many interested parties in the scheme as possible, provided they fulfill certain criteria. The representatives of the institutions were also briefed on the bills being prepared that concern the creation of a one-stop agency for businesses to facilitate licensing and the modernization of the supply chain.

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