Greece: Selected Issues

February 7, 2017

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Format: Chicago

Greece: Selected Issues, (USA: International Monetary Fund, 2017) accessed November 21, 2024

Summary

This Selected Issues paper analyzes insolvency and enforcement issues in Greece. The Greek insolvency and creditor rights framework has improved since the onset of the crisis as a result of successive reforms. Nonetheless, it remains underutilized, fragmented, and distortive, and is not supported by an adequate institutional setting. This is because many of the reforms undertaken in recent years were not part of a coordinated and comprehensive nonperforming loan resolution strategy, but were instead piecemeal and taken without proper stakeholder consultation and impact analysis. Also, the frequent and uncoordinated reforms have undermined legal predictability and certainty. This situation of distress, if left unaddressed, affects enterprises, households and financial and public creditors by preventing investment, credit, and consumption from recovering.

Subject: Expenditure, Financial sector policy and analysis, Labor, Pension spending, Pensions, Revenue administration, Solvency, Tax administration core functions, Tax arrears management

Keywords: Business insolvency regime, CR, Debt, Europe, Global, ISCR, NICs, Pension, Pension benefit, Pension provision, Pension spending, Pensions, Solvency, Southern Europe, SSC debt, Targeted pension, Tax, Tax administration core functions, Tax arrears management, Tax debt

Publication Details

Pages:

47
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/041
Stock No:

1GRCEA2017002
ISBN:

9781475575743
ISSN:

1934-7685

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