By S. Zisimos
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Businesses and self-employed professionals in Greece will have the right to use an out-of-court settlement process for arrears of up to 300,000 euros as of Jan. 1, 2019, raising the current ceiling of 50,000 euros.
The development was announced in Parliament on Monday by relevant Economy and Development Minister Yannis Dragasakis, who confirmed that the process will be extended for the coming year, along with its simplification.
According to finance ministry officials, the hoped for improvements will accelerate the number of cases settled. Some 80 percent of 5,800 applications that have been submitted so far – for arrears of up to 50,000 euros – are eligible for the automatic procedure.
