Government hopes troika will grant debtors longer to pay up

Greece has asked the troika to approve a plan that would allow taxpayers to pay off their debts to the state in 100 or more installments, Kathimerini understands.

Sources said that the government is hoping that the troika will allow up to 108 installments in some cases but it believes Greece’s lenders are more likely to agree to a scheme allowing between 48 and 72 tranches.

Greece is asking for 100-plus installments for those owing up to 15,000 euros to social security funds. The government’s current figures show that almost 66 percent of debtors owe up to 20,000 euros. The 72 tranches will be offered to those with debts of up to 300,000 euros, should the troika approve the plan.

The coalition is also hoping to get the green light to increase to 120 the number of monthly payments that large businesses will be allowed to make in order to clear their debts.

Beyond that, the coalition wants to offer debtors a large reduction on the interest they have to pay if they are able to wipe out their debt with a lump sum payment. It also wants to bring down the interest rate added to the amount taxpayers owe from 8.15 percent at the moment to around 4 percent.

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