“A total of 37,000 of our fellow citizens have set debts of 12 billion euros in the out -of -court mechanism, thus taking a deep breath,” the Minister of National Economy and Finance said in a video on social media, the Minister of National Economy and Finance, Kyriakos Pierrakakis.
“In May, which was the first month of implementation of the new law, we had over 1,670 arrangements corresponding to debt of over 600m euros and we had a semester record,” he added.
In total, the out -of -court debt settlement mechanism of our 37,000 fellow citizens have set debts of 12 billion euros. pic.twitter.com/NxjSF0KtIj
– Kyriakos pierrakakis (@pierrakakis) June 12, 2025
In detail what Mr. Pierrakakis said:
“The new out -of -court debt settlement mechanism we voted on last April proves to be a very powerful tool for supporting citizens and businesses in the country. Specifically, in May, which was the first month of implementation of the new law, we had over 1,670 arrangements corresponding to debt of more than 600m euros and we had so we had record of semester. The rise to the submission of new applications was also spectacular, reached 3,500 in 30 days, and our 37,000 fellow citizens have set debts of 12 billion euros in the out -of -court mechanism, taking a deep breath. The expansion of criteria, the second opportunity given in the middle class and the simplification of the process through the platform, which is constantly improving, make the out -of -court mechanism fairer, faster, more effective (…) and thus the overwhelming majority of citizens can settle over 10,000 euros, Realistic. We continue, with a plan, for an economy resistant to a society, for a society with more opportunities for everyone. “