Greece prepares state credit score for citizens and businesses, distinct from China’s social credit systems

Greece is preparing a state-backed credit score that would give each individual and company a unified picture of creditworthiness, extending beyond conventional banking transactions.

Two digital tools are expected to become operational soon: a Private Debt Monitoring Registry and a Credit Assessment System. The first would collect anonymized data on the size and structure of private debt. It would cover obligations to the state, social insurance funds, municipalities and other public bodies, as well as debts to financial institutions, utilities, telecommunications providers, energy companies and other businesses.

The second system would process data from public agencies to assess how consistently individuals and companies meet their obligations to the state. The resulting rating would range from A to D. The top grade would indicate an excellent credit profile, while the lower grades would signal a greater risk of default.

The assessment would take place at the applicant’s request or with the person’s explicit consent when a third party seeks access. The score could be used in transactions outside the banking system, including commercial credit and private agreements. The system could also exchange credit ratings with agencies such as Tiresias to build a broader picture of an applicant’s financial conduct.

The planned framework has prompted comparisons with China’s “Social Credit System.” The discussion notes that China does not operate one single system assigning every citizen a common score. Instead, according to Stanford University research cited in the text, its social credit mechanisms consist of different systems used by state bodies as part of social governance.