Greece debt restructuring installment expansion

The Greek government is expanding debt restructuring options for small businesses and individual debtors. Following advocacy from the Athens Chamber of Crafts and Industries (BEA), which argued that previous limits imposed unsustainable monthly burdens, the government announced an extension of the maximum repayment period from 72 to 120 installments.

Minister of National Economy and Finance Kyriakos Pierrakakis is expected to submit a provision to Parliament in October to formalize this increase for debts owed to tax authorities (AADE) and social security funds (EFKA/KEAO). The new scheme, which is expected to launch in mid-November, will effectively extend the repayment duration from six years to ten years.

The regulation is expected to reduce monthly payments by up to 40% for many debtors, with minimum payments starting at 30 euros. Under the proposed scheme, the application deadline will be extended until mid-2027. Additionally, individuals currently enrolled in the 72-installment plan will be permitted to transition to the 120-installment option by submitting a new electronic application. These measures aim to provide liquidity to small enterprises and help debtors avoid bank account freezes, seizures, and auctions.