Agreement in principle on legislation for out-of-court settlement of debts for businesses

The government and the representatives of the institutions have agreed in principle for the creation of a legislative framework for the out-of-court settlement of debts accumulated by businesses and the self-employed, during a meeting in Athens on Sunday.

Finance Minister Euclid Tsakalotos and Economy Minister Giorgos Stathakis presented the main points of the draft bill whose eligibility criteria and time frame are still being debated with the institutions. The two sides will meet again on Wednesday (Oct. 26) afternoon to discuss the issue.

Stathakis said after the meeting the government aims at including as many interested parties as possible in the scheme, provided they fulfill some minimum 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.