Debt settlement platform to begin operating in Greece by March 2019

Α Decrease font Enlarge font
Debt settlement platform to begin operating in Greece by March 2019The model being applied is close to the mechanism currently being used for indebted businesses and freelance professionals through the platform at the Special Secretariat for Private Debt Management

March should see the launch of a new mechanism for the out-of-court settlement of debts by individuals, whether they enjoy the provisions of the so-called Katseli law or not, via a special platform that is currently under preparation, ekathimerini.com reports.

The chief incentive being offered for inclusion in the mechanism is the rapid settlement of debts, including a possible state subsidy of installments. This applies to taxpayers who have been granted protection for their main residence under the Katseli law – which expired last Monday but has been extended for another two months – as well as to those who are struggling to pay off their debts but have not applied for protection.

The government’s aim in launching the new platform, which will be run by the same secretariat, is to give taxpayers the option of arranging their arrears through standardized solutions that may also include a partial forgiveness (“haircut”) of their debts. The main difference with the original out-of-court settlement mechanism is that there will be no conditions for inclusion in the mechanism, as is the case with companies and self-employed professionals.

Nevertheless, the settlement to be proposed to individual debtors will be based on strict criteria, such as their income and real estate properties. These are the same criteria as those used by courts for determining the course of a debt settlement – a process that is much more time-consuming – but the new platform will offer standardized settlement solutions, instead of relying on the approach and decision of each court.

This initiative is aimed at clearing an immense backlog of applications for protection by the law named after former economy minister Louka Katseli, and provides for the state to subsidize part or all of each installment due by debtors who are proven to be unable to fulfill their obligations. The government has set aside 50 million euros for 2019 to this end.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Europa credito urgente

Tornos
  1. 27/03 01:16

    Archaeological sites and museums to extend open hours in Greece

  2. 27/03 01:13

    Hellenic Bank Association elects Piraeus Bank George Hantzinikolaou as head

  3. 27/03 01:07

    Stork nests in Greece not to be moved after birds settle in February

  4. 27/03 01:00

    Greek capital of Athens to host “Space Olympics” in 2022

  5. 27/03 00:56

    Greek Foreign Ministry talks with UAE officials in Abu Dhabi

  6. 27/03 00:49

    Visit the heart of our amazing Milky Way galaxy

  7. 27/03 00:45

    Greek Minister approves report for hydrocarbon exploration off Crete island

  8. 27/03 00:31

    British Airways adds more routes to Greece for summer of 2019

  9. 27/03 00:16

    Attica Region presents improved Pedion Areos metropolitan park in Athens

  10. 27/03 00:10

    European parliament votes to end seasonal clock shifts after 2021

  11. 27/03 00:05

    Greek Lavrio-Cesme sea link to circumvent long travel time for tourists

  12. 26/03 19:36

    Report: Zakynthos Municipality strives to open Navagio Beach for summer

  13. 26/03 17:15

    Cyprus and Portugal to promote cooperation in maritime transport

  14. 26/03 11:17

    5th Greek Maritime Golf Event at Costa Navarino from 8-9 June 2019

  15. 25/03 23:11

    Religious Tourism: Annunciation of Virgin Mary celebrated in Greece

  16. 25/03 23:01

    Bakaliaros and skordalia: Greece’s traditional delicacy for March 25

  17. 25/03 22:23

    History tourism: Heroines who fought bravely for Greece’s Independence

  18. 25/03 20:59

    Luxury Travel Guide: Polis Hammam in Athens voted as "Best in Europe"

  19. 25/03 15:37

    Today’s Google Doodle honors the Greek Revolution of March 25th, 1821 (video)

  20. 25/03 15:32

    Archaeological Museum inaugurated on Greek island of Corfu

  21. 25/03 15:27

    Minister: Sports should be an integral part of Cyprus’ tourist product

  22. 25/03 14:57

    City Break guide: Enjoying urban neighbourhood of Ambelokipi in Athens

  23. 25/03 13:34

    Greek Independence Day celebrated in Sydney, Australia on March 25th, 2019

  24. 25/03 11:33

    Greek independence parade in Athens with “Macedonia famous” song (videos)

  25. 24/03 23:23

    Erdogan announces he plans to turn Hagia Sophia into a Mosque

  26. 24/03 15:19

    Free entrance to the Acropolis Museum in Athens on March 25

  27. 24/03 14:35

    Daylight Savings Time changes next Sunday March 31st, 2019 in Greece

  28. 24/03 14:26

    Property prices recorded strong growth of 7.3% in Greece last year

  29. 24/03 14:21

    Greek Cultural Center in Astoria presents Unspoken Words by Women play

  30. 24/03 14:08

    History report: How the Greek Revolution sparked Philhellenism around the globe

  31. 24/03 14:00

    Swarm of thousands of butterflies passes through island of Cyprus

  32. 24/03 13:55

    Norwegians travel to Greek island of Crete for skiing on Mount Psiloritis

  33. 24/03 13:46

    Celebratory events planned in larger cities for Greek Independence Day

  34. 24/03 11:33

    South Korea donates half a million dollars to UN for refugees in Greece

  35. 23/03 14:01

    Main opposition leader Mitsotakis visits Greek island of Corfu

  36. 23/03 13:57

    Montreal celebrates Greek Independence Day on March 24

  37. 23/03 13:30

    Experience Greek island of Lemnos through its flavours and its people

  38. 23/03 12:33

    Bank of Greece: Travel receipts grow by 53.2% in January

  39. 23/03 12:23

    Greek banks contemplate even more ambitious NPL reduction target

  40. 23/03 11:01

    Card use growth in Greece shows first signs of fatigue

  41. 23/03 10:28

    GreekTech event to support start-ups from Greece to expand in US

  42. 22/03 17:20

    Talks between Greece and Northern Macedonia on history, archaeology and education

  43. 22/03 17:03

    President's message to Diaspora Greeks for March 25 national holiday

  44. 22/03 16:52

    Saudi Arabian archaeological treasures show at Benaki Museum in Athens

  45. 22/03 16:41

    Norwegian energy giant proposes huge floating wind farm in the Aegean

  46. 22/03 16:30

    Seminar and diving tour in Greek island of Alonnisos

  47. 22/03 15:59

    First “Argo” awards to eight prominent Diaspora Greeks

  48. 22/03 15:58

    Electricity gradually returning to Crete following explosion at power plant (video)

  49. 22/03 15:43

    Ferry services back to normal in Greece

  50. 22/03 15:12

    3.8 billion Athens metro projects to be funded by NSRF 2021 - 2027

  51. 22/03 15:02

    Road infrastructure to upgrade connectivity between Greece and Bulgaria

  52. 22/03 14:16

    London’s youngest Michelin star chef comes from Athens

  53. 22/03 12:10

    Greek island of Lipsi near Patmos taps the Dutch tourist market

  54. 22/03 10:35

    Mykonos reaching 12,000 euros per square metre for high-end properties

  55. 22/03 10:08

    Restored church of Saint Anne and Tanners’ mosque delivered in Famagusta

  56. 21/03 22:35

    National Hellenic Museum to mark Greek Independence Day on March 23

  57. 21/03 22:26

    Strong winds disrupt ferry services from Greek ports of Piraeus and Rafina

  58. 21/03 22:04

    Direct tourism revenues at €16 billion in Greece for 2018

  59. 21/03 21:30

    Reuters: European Union offers UK delay till May 22 for Brexit

  60. 21/03 21:29

    Greek unemployment eases again during February 2019

  61. 21/03 21:00

    The largest road projects in the revised NSRF 2014 - 2020 program for Greece

  62. 21/03 19:52

    Trivago awards 2019: The 30 top-rated and top-performing hotels in Greece

  63. 21/03 19:20

    Fraport's fastest growing division is Greek subsidiary

  64. 21/03 17:13

    British Library returns historic documents stolen from Greek monastery

  65. 21/03 17:00

    Greek Minister in North Macedonia for talks on cooperation in transport

  66. 21/03 15:53

    Inchcape to participate in Posidonia Shipping Forum 2019 in Athens

  67. 21/03 14:37

    Exhibition on maritime tradition of Cyprus in Lisbon

  68. 21/03 13:47

    IMF spokesperson: Greece 'on a much better track' due to reforms

  69. 21/03 11:43

    American Airlines to operate new flight from Athens to Chicago

  70. 20/03 23:46

    Privatized Thessaloniki Port Authority launches €180 million investment plan

  71. 20/03 23:38

    Travel report: Wonderful springtime destinations in the Peloponnese, Greece

  72. 20/03 23:33

    Athens shopping mall's motion to open on Sundays during summer rejected

  73. 20/03 23:22

    Greece’s TravelFest to be held in Athens on April 6th-7th 2019

  74. 20/03 23:18

    Top cruise operators arrange date for Posidonia event forum in Athens

  75. 20/03 23:08

    NY Times: Golden Visa investors and tourism support Greece’s recovery

  76. 20/03 22:15

    Katakouzenos House Museum: Another hidden cultural gem in Athens

  77. 20/03 21:46

    Successor scheme for primary residence protection tabled on Friday

  78. 20/03 20:59

    Greek scouts' initiatives ahead of World Water Day 2019

  79. 20/03 20:46

    History tourism report: Gossip employed as a weapon in Ancient Greece

  80. 20/03 20:35

    Tourism: Hotels target Millennials and focus on sustainability and advanced technology

  81. 20/03 20:27

    Diaspora in South African celebrates Greek Independence Day

  82. 20/03 20:15

    EU Commission's Costello optimistic over prospects of Greek economy

  83. 20/03 19:31

    Laudamotion flights between Athens-Vienna from €19.99

  84. 20/03 17:59

    Robert Kennedy’s daughter supports return of Parthenon Marbles to Greece

  85. 20/03 15:50

    US State Secretary present in Greece-Cyprus-Israel summit in Jerusalem

  86. 20/03 15:41

    More than 5,000 drunk drivers stopped across Greece within a week

  87. 20/03 14:32

    Gas station owners federation asks for reduction of taxes on fuel in Greece

  88. 20/03 13:43

    Spring Equinox and supermoon to coincide in sky over Athens tonight

  89. 20/03 11:15

    First cruise ship arrived in island of Rhodes for 2019

  90. 20/03 01:47

    Global cruise Industry meets at Posidonia Sea Tourism Forum 2019

  91. 20/03 01:22

    Greek main opposition leader vows stalled Hellenikon development push

  92. 19/03 23:17

    Study: Santorini overcrowded but tourism keeps propelling Greek recovery

  93. 19/03 21:37

    Greek merchant shipping fleet grew in numbers during January

  94. 19/03 20:40

    Pick up a book before your flight at the Athens International airport

  95. 19/03 20:40

    Greece and Israel set to install new marine radar in island of Crete

  96. 19/03 20:18

    Greece's 14 top railway projects in the revised EU funding for 2014 - 2020

  97. 19/03 20:12

    Piraeus container port en route for top ranking in Mediterranean Sea

  98. 19/03 19:45

    Alternate FΜ: Greece prepared against any and all Brexit scenarios

  99. 19/03 18:31

    OECD's Secretary General Gurria: Greece on the right track to sustainable growth

  100. 19/03 16:28

    Piraeus University marks 20th anniversary of International and European Studies Dept.