Following strong pressure from its international creditors, the government has started to separate expired debts into two groups, those that can be repaid and those that cannot, so that the monitoring mechanism can focus on cases that will bring immediate results and bolster state revenues.
This is included in a draft law prepared by the Finance Ministry concerning the capital market.
The bill also settles issues related to the monitoring mechanism’s organization while fines will be cut to a fifth for those who show compliance.
Expired debts amount to 55.5 billion euros, but according to an International Monetary Fund report no more than 20 percent of that can be collected. Uncollectible debts will enter a special file for 20 years and will then be written off, unless debtors are found to have assets, which would lead to the reopening of their cases.
IMF chief Christine Lagarde says a Paris court has named her as a key witness in an investigation into a controversial payoff to an outspoken businessman arranged while she was Frances finan...
Ex-Education Minister Anna Diamantopoulou became on Friday the latest member of the PASOK cabinet serving when Greece signed its bailout deal with the troika in May 2010 to make plans to cre...
PAOK recovered some of the ground lost in the Super League playoffs by beating fellow Champions League-spot contender Asteras 2-1 at Tripoli on Wednesday, while PAS Giannina and Atromitos sh...
The league that in the last three years has produced the European basketball champion entered its playoffs on Tuesday and Wednesday with the first games of the quarterfinal round, with AGO R...
The dramatic appeal for a national mobilization in the face of a heightened threat of devastating forest fires this summer, which Public Order Minister Nikos Dendias voiced in Parliament on ...
The danger of wildfires breaking out across the country in the summer period is just as high this year just as it has been every other year before.
But, the tools and infrastructure availabl...
