“The progress made in recent months has been particularly significant, making this tool the most successful in 12 years”
“The latest data on the course of the Extrajudicial Debt Settlement Mechanism prove that it is now functioning satisfactorily”, this is what the Minister of Finance Christos Staikouras emphasizes, among others, on the occasion of the publication of the progress report of the extrajudicial mechanism.
As stated by the minister, “to date, more than 3,320 debtors have settled debts to the State and to financial institutions, totaling 1.08 billion euros. Last September, the total amount of settled debts reached just over 300 million euros.”
At the same time, Chr. Staikouras notes that “the progress that has been made is particularly significant in recent months, making this tool the most successful in the last 12 years to address the serious issue of private debt among those put in place by successive governments.
But the above figures are not something to celebrate, but proof that everyone involved – principally the loan and credit management companies, and, secondarily, the banks – we have the potential to do much more, further increasing the acceptance rate as well as the height of the arrangements implemented”.
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