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[BUSINESS] · Greece · 3 sources

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Greece: Farmer unable to repay debt due to frozen subsidies

An agricultural producer in Greece, Alexandra Lykomitrou, is facing a legal and bureaucratic deadlock regarding a debt that ballooned from 5,000 euros to 55,000 euros due to interest capitalization and compounding by the Agricultural Bank of Greece.

Following legal intervention, the debt was reduced by approximately 90%, bringing the remaining balance back to 5,000 euros. However, the family is unable to pay this amount because the Independent Authority for Public Revenue (AADE) has frozen the bank account where their agricultural subsidies and earthquake relief funds are deposited.

Despite a 2018 law stating that agricultural subsidies are exempt from seizure by the state, banks, or third parties, the freeze remains active, preventing the family from settling the debt and moving forward.

Entities

Agricultural Bank of Greece · Alexandra Lykomitrou · Independent Authority for Public Revenue