Debt Settlements Double, Reaching €10.45 Billion in a Year
Debt settlements through the out-of-court mechanism more than doubled in the past year, reaching €10.45 billion with 31,953 successful cases, according to the economy and finance ministry. This marks a sharp rise from the €4.36 billion and 12,025 settlements recorded at the end of 2023, CE Report quotes Athens-Macedonian
The trend remains strong, with 1,440 settlements worth €437.16 million concluded in February, up from 1,222 cases and €392 million a year earlier.
National Economy and Finance Minister Kostis Hatzidakis attributed this surge to the December 2023 reforms, which included debt reductions of up to 28%, mandatory acceptance of proposals for vulnerable borrowers, and lower interest rates. He emphasized that the mechanism is proving to be a trusted tool for managing private debt and a key example of social policy in action.
