The new leadership of the Ministry of Development as well as the Ministry of Labour, Social Security and Welfare are concerned about the “three debt pylons” of Greek businesses. Specifically, these are their obligations to revenue services, the IKA social security institute and other insurance funds as well as banks. Official sources say that a proposal is on the table for the creation of a more flexible system to restructure these requirements. This wouldn’t mean a haircut, but a conjunction of obligations.

The debts of companies in all three directions would be joined to create a fast-track procedure, possibly with the creation of anglosaxon-styled courts for the debt restructuring.

The same source states that the institutional intervention aims to find solutions for small and medium sized businesses (SMEs) that find it difficult to make ends meet as well as larger companies that are stretched by their obligations in different directions despite having an active turnover.