An amendment proposed by the Ministry of Economy provides for an express remission of small debts to banks and the state, totalling up to 20,000 euro. The parliament voted on it today together with the new agreement between Greece and its creditors.
The new amendment included in the Katselis law on debt remission of over-indebted households opens the way for thousands of debtors to "cancel" their debts as long as they do not exceed the stipulated amount of 20,000. The condition for this is for households not to own property, to have zero income and bank accounts of up to 1,000 euro. Debt remission will take place by an application submitted to the local court.
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