Bill for struggling firms nearly ready

Economy, Competitiveness and Merchant Marine Minister Louka Katseli is seen speaking at a conference organized by the American Hellenic Chamber of Commerce in Athens yesterday. Katseli outlined the Socialist government’s top four priorities as being the provision of more liquidity to the market, investment support, the boosting of competitiveness and consumer rights protection. ‘With a draft bill to be submitted to Parliament next week, businesses in financial difficulty will be able to suspend payments for two years, renegotiate outstanding payments and get out of the Tiresias system if they have met all their financial commitments,’ said the minister. Tiresias is an agency jointly owned by Greek banks that provides credit profiles on clients, highlighting those that have reneged on debt.

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