Bankruptcy
Editorial: Demagoguery, populism come at a price
Opportunistic demagoguery and pledges that ignore the economic realities and the results of negotiations with creditors are an inextricable part of SYRIZA's profile.
Despite the defeats that it suffered and its political acrobatics that had painful consequences for the country, they continue to repeat their old tactics.
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Another bill planned for settling debts
The government is preparing a new bill aimed at tackling the entire set of debts to the tax authorities, social security funds and local authorities.
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Banks to sell assets taken from indebted property developers
Offices, stores, industrial plants and even plots of land worth millions of euros form part of the property portfolios banks have obtained through streamlining agreements with overindebted corporations in the real estate sector as well as many others. The banks now intend to put them on the market in the next few months.
Government, banks, SSM agree on protection from foreclosure
State Minister Alekos Flambouraris, representatives of the Hellenic Bank Association, and the CEO's of Greece's four systemic banks finalised details of the new framework for the protection of debtors' primary residence from foreclosure.
Banks voice serious objections to debtor protection plan
Banks are expressing serious objections to the government blueprint for the new system to protect debtors' primary residences. Their criticism focuses on five main issues which, if not taken into account, would undermine the effort to reveal strategic defaulters and could create a new pool of borrowers who are unwilling to cooperate, according to credit sector officials.
Greek jeweller Folli says board approved restructuring plan
Greek jewellery maker Folli Follie's board of directors has approved a restructuring plan backed by a group of bondholders, the company said in a bourse filing on Thursday.
Amendment to Katseli law is expected in Brussels next week
Early next week the government will send the country's creditors the final text of the amendment to the Katseli law, as up until Friday certain disagreements remained among the competent government officials on how to respond to reservations expressed by the creditors.
Plan for tax debts is not submitted
The fate of the plan for settling tax debts in 120 installments remains unknown, as the government did not present it to the representatives of its creditors during this week's negotiations in Athens, while a senior official left it open as to whether such a proposal would be submitted at all.
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Plan to slash 70 pct of social security debts
The new plan for restructuring arrears to social security funds foresees a haircut to the original debt averaging between 50 and 55 percent, and a write-off of late fees by up to 85 percent, sources have told Kathimerini.
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Extrajudicial mechanism set to include 2018 debts
The government is expected to include debts that expired in 2018 in the provisions of the recently revised out-of-court debt settlement mechanism.
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