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Friday, July 17, 2026

Bill to settle debts to the state with 120 installments is out

The much anticipated bill regarding the settlements of debtors to the state was presented on Sunday. Debtors to tax offices and social security funds as well as to municipalities will have now the possibility to settle their debts with 120 installments with a minimum installment of 30 euros.

The settlement foresees the reduction of the debt’s bulk nominal sum value after all final recalculations, including the write-off of 85% of all additional surcharges.

The bill opens the way to thousands of self-employed and farmers who are trapped in their debts and cannot go to retirement although they fulfill the work years and age criteria.

Furthermore the bill includes provisions for widow pensions, workers’ redundancies and specific arrangements for the employment and insurance status of couriers and delivery boys.

Debtors will have to submit their applications for debt settlement online, the platform will open on May 14 and run until June 28.

President of the Piraeus Chamber of Commerce & Industry, Vasilis Korkidis, said the bill concerns 4.1 million debtors who owe 104,4 billion euros to the tax office, and another 1,5 million debtors who owe 38,2 billion euros debt in total to insurance funds liabilities against the national insurance system EFKA. 

The bill will require the vote in Parliament but also the formal approval of Greece’s lenders and financial institutions who supervise the implementation of economic reforms.

According to state-run news agency amna, finance minister Euclid Tsakalotos said “we will explain to the institutions” that there is no damage, from this bill, to what Greece has so far agreed.”

The government wants to have the bill passed as soon as possible. However, there could be delays as main opposition New Democracy had said to submit a censure motion against the government and Alternate Health Minister Pavlos Polakis on Monday. such a motion blocks discussion and voting in the Parliament for a couple of days.

The government has said that more relief measures are to be announced during the week.

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