Creditors’ representatives in Athens this week reportedly exhibited a hardened stance vis-à-vis the leftist Greek government’s latest proposals, with reports on Tuesday pointing to a flat out rejection of one measure dubbed as “business-friendly” by the Greek side.
According to reports by “N”, representatives of the “quartet” of institutional creditors rejected a plan to allow business entities the right to protect one of their bank accounts from creditors and third party obligations (seizures, foreclosures, injunctions etc). The proposed idea would have designated protection for an account used to pay obligations to the state and a business’ payroll.
Representatives reportedly branded the text in a proposed draft law better facilitating electronic transactions, instead of cash, as unacceptable.
The text was returned with a message, according to reports, reading that if businesses cannot meet their scheduled payments of overdue debts, they should be considered as “non-viable and close”.
Creditors also reportedly rejected a proposed draft law envisioning incentives for the voluntary disclosure of untaxed capital, insisting instead on foreseen penalties and fines.
