Greece’s latest debt settlement measures—approved through recent legislation—are now entering full implementation. At the center of this rollout is the highly anticipated 72-installment repayment plan for public-sector debts, alongside enhancements to the out-of-court debt settlement mechanism and new safeguards for primary residences.
Implementation Timeline
The platform for settling debts owed to the Social Insurance Fund (EFKA) is already live for obligations incurred up to 31 December 2023. The corresponding platform for debts owed to the Independent Authority for Public Revenue (AADE) will go live by 20 July. On 26 July, the new out-of-court settlement framework opens for applications—including debts of at least €5,000 owed either to the state or to financial institutions. Finally, on 21 September, an additional tool designed to protect primary residences via the out-of-court mechanism enters into force.
Out-of-Court Mechanism: Strong Uptake in June
Applications to Greece’s out-of-court debt settlement mechanism continue to rise steadily. In June alone, 1,800 new settlements were approved, covering initial debt amounts totaling €458.6 million. Monthly application initiations reached a record high for the first half of the year, with 6,129 preliminary submissions and 3,356 finalized filings completed that month.
This sustained momentum is largely attributed to recent legislative changes—including broader eligibility criteria—which allow more debtors to resolve outstanding liabilities while shielding their assets. Since the platform launched, a total of 64,406 settlements have been successfully completed, amounting to €19.67 billion in original debt. This growing participation signals increasing public confidence in the mechanism.
Social Protection: Support for Vulnerable Groups and Persons with Disabilities
Participation from economically vulnerable households remains notably strong. In June, 12.5% of all out-of-court settlements involved individuals classified as economically vulnerable or persons with disabilities (PwD). Since the mechanism’s inception, 584 debtors have secured suspensions of enforcement actions—effectively protecting both their property and primary residence.
Bilateral Loan Restructuring with Financial Institutions
Alongside government-led tools, bilateral loan restructuring continues with major servicing firms. In May, the four largest servicers—Intrum, Cepal, DoValue, and Qquant—finalized settlements worth €399.3 million across 4,821 debtors. Most of these restructured debts relate to housing loans.
Digital Engagement: MyEGDIXlive Appointments
In the first half of 2026, over 24,796 appointments were scheduled via the MyEGDIXlive digital service. Of those, 16,501 were for out-of-court debt settlement consultations, 3,886 related to Swiss franc-linked loan issues, and 2,283 addressed general debt management inquiries.