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Greek Gov't Will Move to Confiscate for Large-scale Debtors Not Signing Up for Repayment Program

When the deadline for submitting applications to manage debts under the 100-installment application runs out, the government will move to measures of confiscation over outstanding debts, Greek Alternate Finance Minister Nadia Valavani said.
Responding to a parliamentary question by deputy Dimitris Kammenos of the co-ruling Independent Greeks (ANEL) party, Valavani said that the measures will be applied to large-scale debtors who have not responded to the repayment program. She noted as examples a long list that includes “dozens of utilities, 200 industries, 60 shipping companies, football businesses, dozens of commercial enterprises and others.” A total of 13,000 legal entities and 10,500 individuals owe the state over 150,000 euros each, she said.
While outstanding loans total 77 billion euros, she said, only 2.2 billion of these were brought under repayment schedules. Among others, the total includes 47.5 billion euros owed by legal entities and 20 billion owed by individuals. The government hopes to “claim a large percentage of this tremendous amount,” she added.
(source: ana-mpa)

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