Insufficient interventions in the out-of-court procedure
The government has proceeded, belatedly, to revive all debt settlements,
giving a second chance to those debtors who have been non-compliant due to the health and then the energy crisis.
This is undoubtedly a positive intervention, which gives the market a first “breath of fresh air”,
as new debts had already begun to accumulate, making the future of businesses extremely precarious.
Already, thousands of small and medium-sized enterprises are in debt and cannot pay their social security contributions,
which makes it impossible to issue an insurance certificate, while a significant number of them,
is not yet in a position to apply for his or her pension.
Request of the administration of the Athens Chamber of Commerce and Industry
The reintroduction of debt rescheduling, and in particular the 120 instalments, was a standing request of the administration
of the Athens Chamber of Crafts, as it was certain that a new wave of debts had been created.
The BEA , with frequent announcements in the media and letters to the financial staff, had pointed out in good time,
that the recessionary market situation, increased operating costs for professionals and shrinking disposable income,
combined with the increase in social security contributions, will create a new pool of unpaid liabilities.
With the possibility of reviving the 120 instalments in combination with the introduction of a new regulation for those who have accumulated debts
during the energy crisis, the Government admits the problematic state of the market,
of which we had informed her in good time.
But apart from the measures announced yesterday by the Government, the market continues to need a significant reduction
and not an increase as announced – of social security contributions and taxes, combined with a series of measures
effective support for small and medium-sized enterprises and professionals, so that they can be effectively addressed,
the consequences of the energy accuracy wave.
For example, a new regulation with several instalments for all debts would help even more
in the struggle of businesses to survive.
At the same time, the Government continues to show legislative timidity on the issue of Auctions, where thousands of small businessmen are threatened to lose their homes, especially after the green light given to the funds by the Supreme Court.
Yesterday’s improvements announced by the Finance Ministry for the Out-of-Court Debt Settlement Mechanism can only act as a small buffer to the upcoming “tsunami” of auctions and not as a substantial protection of the weakest and social cohesion.
Therefore, yesterday’s announcements could have been bolder, as well as not only the expectations,
but also the actual problems of the market are greater.
