EFKA debt settlements in Greece exceed 24 billion euros in losses

Statistics from the Center for the Collection of Social Security Contributions (KEAO) reveal that debt settlements for the Greek Social Insurance Institution (EFKA) have faced significant failure rates. Over the recent years, lost debt settlements have exceeded 24 billion euros as debtors failed to meet their obligations.

Regarding the current 72-installment settlement plan, participation has been low. Approximately three months after its activation, only about 10,000 applications have been submitted out of 1.6 million total debtors, who collectively owe 52.43 billion euros. The low uptake is attributed to the exclusion of debts established after January 1, 2024, and the requirement to simultaneously maintain permanent settlements.

Professional organizations are calling for a 120-installment option to provide relief to debtors facing high energy costs. Meanwhile, KEAO is increasing enforcement measures, including warning messages regarding potential seizures of bank accounts and real estate for non-payment.