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Half of Greeks unable to cope with bills due to pandemic, survey finds

Greeks ranked lowest among 24 countries in Europe for the second time in terms of their ability to pay their bills in 2020, according to the annual European Payment Report published by Intrum. The survey also found that nearly half saw their incomes drop as a result of the coronavirus …

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Social security debts in Greece soar in second quarter 2020

Expired debts of employers, freelance professionals, the self-employed and farmers to the Single Social Security Entity (EFKA) soared by 687 million euros during the difficult second quarter of the year. The quarterly report by the Debt Collection Center (KEAO) for the April-June period revealed an increase in social security arrears …

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Greece’s power company PPC to sell unpaid bills to JPMorgan

Public Power Corporation (PPC) , Greece’s biggest utility, is close to selling off a bundle of unpaid bills worth about 300 million euros in a secularization deal with JPMorgan, two sources close to the matter told news agency reuters on Tuesday. PPC, which is 51% state-owned, is struggling under a …

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Two Greek casinos shut down due to debts to social security fund

The Hellenic Gaming Commission (EEEP) shut down the casinos in Rio and Alexandroupolis due to debts to Social Security Fund EFKA. The casinos will remain closed for two months. According to an EFKA report, the Rio casino had overdue contributions arrears of €25 million euros, while the Alexandroupoli casino owed …

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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 …

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Tsakalotos says Greece plans to return to markets in 2019 to buy IMF or ECB debt

Greek Finance Minister Euclid Tsakalotos unfolded the government plans how to deal with red loans and how the country will return to the markets. In an interview with radio News24/7 on Tuesday, Tsakalotos said that Greece negotiated hard with the country’s lenders to secure a buffer of 25 billion euros …

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Ghost of Christmas Present: PPC cuts power to mother of four

Ignorance? Want? Ugly, mean and greedy little creatures? That was in mid-Victorian England and in Charles Dickens’ A Christmas Carol.  In the novel that has touched millions people ever since it was first published in 1843, ‘the two emaciated children” grow up to be adults, Ignorance as adult man in …

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Gov’t to write off debts of uninsured patients to Greece’s public hospitals

Health Minister Andreas Xanthos announced a legislation in order to facilitate the write off of uninsured patients’ debts to public hospitals and therefore to the tax office. Speaking to Sto Kokkino FM, Xanthos said that there have been confirmed debts amounting 28,000,000 euros for treatment of uninsured patients until 2015. …

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Public Power Company PPC hires an Artistic Director for its choir… #NoWords

Greece’s Public Power Company hired an artistic director for its choir. It sounds like a bad musical the moment the PPC announced to retrieve retrospectively €735 million euros from electricity consumers as  outstanding debt have reached 2.2 billion euros. In a job opening that run from March 24 to April …

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New charges against Sorras: Leader of criminal organization, fraud, money laundering and others

The self-proclaimed billionaire and now fugitive Artemis Sorras has been charged with fraud and running a criminal organization. The office of prosecutor in Athens published a long list of charges against Artemis Sorras and seven of his close associates on Tuesday. The list of charges reportedly contain “half of the …

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