With some 25 percent of Greeks having stopped paying their loans because of pay cuts, tax hikes and slashed pensions, one company that owes 750,000 euros, or $977,962 in social security payments to the state insurance fund IKA has been given 391 years to pay. The set-up ordered by a Greek court was for 4,700 monthly installments of 160 euros, the last payment coming on March 31, 2404.
The news came Democratic Left Member of Parliament Giorgos Kyrtsis, the Athens daily newspaper Ethnos reported, during a parliamentary session at which he showed a document on the installment without mentioning the name of the company. The deputy said the payment of installments for debts exceeding 300,000 euros are decided by IKA direction.
(Sources: Ethnos, ANSA)
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