New debt repayment plans afoot
The government plans to introduce legislation that seeks to simplify the repayment of debts by individuals and businesses to tax authorities, social insurance funds and banks.
The underlying principle of the new framework will be that the number of installments will depend on the income but also on the period when the debt became overdue.
The government wants the new framework for settling arrears to take effect in 2020 and has reportedly already discussed the issue with Greece's lenders.
According to reports, the government and the institutions are very close to agreeing on the new framework, which, if everything goes as planned, will go into force as of January 1, 2020.
However, both sides agreed that the final decision - which will lead to the submission of the relevant legislation to Parliament - will be made in December, when a better picture emerges...
- Log in to post comments