NEWS

Local authorities seek protection from bankruptcy

The head of the union of Greek mayors, Giorgos Patoulis, wrote to Finance Minister Euclid Tsakalotos and Interior Minister Panayiotis Kouroublis on Thursday to seek support after the third municipality in a year declared bankruptcy.

Patoulis underlined the “huge financial cutbacks” that local authorities have suffered and decried a lack of government support. The state fund for bankrupt local authorities contains only 85 million euros and must be topped up, he said.

His letter came a day after the Municipality of Acharnes, north of Athens, went bankrupt. It followed Salamina and Gortyna, on Crete.

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