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Outstanding Debts to Security Funds Pile Up

Greece Running Out of MoneyOutstanding debts to security funds in Greece reached 13.5 billion euros in November, compared to 11.485 billion in October, according to latest figures.
Almost 1.8 billion euros owed to the Freelancers Security Organization (OAEE), were transferred to the Security Fund Recovery Center (KEAO). All outstanding debts to security funds that are over 5,000 euros have been transferred to KEAO for collection. Out of the 13.5 billion in total debt, 3.2 billion is penalties.
KEAO collected 34,380,578 euros for security funds in November, whereas in October the center received 28,650,854 euros in payments. The rise in payments is due to the new debt settlement measure where the debtor can repay state debts in 72 or 100 tranches.
Specifically, 14,416,804 euros were collected without a settlement and 19,963,774 euros were paid by debtors who took advantage of the new repayment program.

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