ECONOMY

Troika, ministry close to deal on corporate debts

Inspectors from the International Monetary Fund, the European Central Bank and the European Commission tasked with assessing Greece’s progress in structural reforms met with Interior Minister Nikos Dendias (photo) on Wednesday to discuss measures for settling corporate debts.

According to ministry sources quoted by Skai, the meeting ended with the so-called troika accepting the ministry’s draft law aimed at making it easier for Greek businesses to settle a total of some 40 billion euros of debts to the state and social security funds.

Three more meeting are expected to follow before the draft is finalized and can be put to Parliament for ratification; two of these will address technical issues pertaining to the measures, while the third will be between Dendias and the troika representatives to seal the deal.

According to sources, the troika asked the ministry to make some technical adjustments to the draft law, particularly to clauses pertaining to the fines that will be imposed on debtors who fail to honor their commitments.