Greece has submitted a sweeping debt relief bill to parliament, launching a broad restructuring framework aimed at easing more than €240 billion in private debt, the finance ministry has said.
The omnibus package sets out six main interventions to help more than 1.5 million households and businesses burdened by long-standing arrears to tax authorities, social security funds, banks and loan-servicing firms.
The measures are expected to roll out gradually through the autumn.
A central feature is a special 72-installment repayment scheme for tax and social insurance debts incurred before 2024. The digital platform for applications is due to open in July, with fixed annual interest of 5.84% and a minimum monthly installment of €30.
The bill also expands the out-of-court debt settlement mechanism by lowering the entry threshold to debts of €5,000, making more borrowers eligible for restructuring.
For the first time, debtors will be able to protect their primary residence from liquidation under longer repayment plans of up to 35 years.
In another key change, the protected balance in personal bank accounts will rise from €1,250 to €1,600, shielding more basic funds from seizure.
Borrowers facing garnishment will also be able to lift account freezes by paying 25% of their principal debt upfront and restructuring the remainder of their tax liabilities.
The government says the package is designed to provide immediate relief while improving debt recovery, in a country where household and business arrears remain a major drag on economic stability.
By Kostas Tsahakis