72 installments or out-of-court settlement? What suits you best

Greece is presenting citizens with two distinct pathways to manage outstanding debts to the tax office and social security funds. The first option allows for the settlement of debts incurred up to December 31, 2023, through a 72-installment plan. This program features a modest minimum installment of 30 euros and a fixed interest rate of 5.84%, accessible via a simple online application.

The second option is the out-of-court settlement, which will become available on July 26. This program targets larger debts, specifically those amounting to 5,000 euros or more. It offers a more favorable interest rate of 3% and extends the repayment period to up to 240 installments for debts owed to the state. A significant incentive is the potential for a haircut on the principal debt amount. However, this route comes with a notable condition: mandatory waiver of bank and tax secrecy, a measure designed to ensure transparency and prevent evasion.

The article also touches upon other pressing issues, including a debate among doctors regarding cosmetic procedures like Botox and a guide to installing photovoltaic panels on balconies for cheaper electricity. Additionally, it reports on international news, with Iran issuing a warning to the United States regarding potential attacks on its nuclear facilities, and the tragic discovery of a criminal lawyer, Stavros Georgiou, found dead in his office under suspicious circumstances.