Greece's Ministry of National Economy and Finance published a progress update on the out-of-court debt workout mechanism and outlined further legislative changes to private debt management. The mechanism produced 2,172 new restructurings in April covering initial debts of EUR 588 million, up 51% from April 2025. Since the platform began operating, 60,388 restructurings covering initial debts of EUR 18.64 billion have been completed. The ministry is advancing measures that would let applicants using the mechanism separate a primary residence from the rest of their assets, with haircuts and monthly instalments based only on the home's value and the debtor's income, while other assets could be liquidated through electronic auction to repay debts. It would also lower the entry threshold from EUR 10,000 to EUR 5,000, potentially widening access to up to 1 million debtors, allow a bank account seizure to be lifted once at least 25% of the debt has been repaid and the remainder restructured, and create a plan of up to 72 instalments for debts created by the end of 2023 for more than 1.5 million individuals and legal entities. Separately, bilateral loan restructurings with the four largest servicers, Intrum, Cepal, DoValue and Qquant, totalled EUR 290 million in March 2026 across 3,252 debtors.
Ministry of National Economy and Finance (Greece) 2026-05-06
Greece's Ministry of National Economy and Finance advances debt relief measures and reports 2,172 April out-of-court restructurings worth EUR 588 million
Greece's Ministry of National Economy and Finance reported continued growth in the out-of-court debt workout mechanism, with 2,172 new restructurings in April covering initial debts of EUR 588 million and a cumulative 60,388 restructurings totalling EUR 18.64 billion. The ministry plans legislative changes to separate primary residences from other assets, lower the entry threshold to EUR 5,000, ease bank account seizures after partial repayment, and introduce up to 72-instalment plans for debts created by end-2023. It also reported EUR 290 million of bilateral loan restructurings with the four largest servicers across 3,252 debtors.