All individuals and enterprises in Greece shall be given a solvency rating, indicating their creditworthiness, which will be used in every future contract ranging from getting a loan to cooperating with a supplier.
The credit profile of each taxpayer and company will be determined by the Independent Authority for Credit Assessment, whose setup will be provided in one of the next few bills that the relevant Economy Minister Dimitris Papadimitriou submits to Parliament.
The new authority, according to the bill Kathimerini newspaper has seen, will also be able to operate as a consultant for the drafting of corporate sustainability reports in the context of the out-of-court workout mechanism for debt settlement. As a credit bureau, the authority will also be allowed to issue financial analyses, statistical studies as well as corporate restructuring plans.
One of the government’s main goals is to offer solvent borrowers the chance to secure more favorable terms in future loan agreements based on their high ratings resulting from previous loan repayments.
The bill’s text has already been approved by the country’s creditors and has been submitted to banks for their comments.
Read more here.
RELATED TOPICS: Greece, Greek tourism news, Tourism in Greece, Greek islands, Hotels in Greece, Travel to Greece, Greek destinations , Greek travel market, Greek tourism statistics, Greek tourism report
Photo Source: Wikimedia Commons Copyright: Europa credito urgente License: CC-BY-SA
Source: ekathimerini.com
