Greece to slash Katseli law debt payment

Greece’s Ministry of National Economy and Finance is finalizing a legislative amendment to slash monthly repayments and shorten loan terms for thousands of distressed borrowers protected under the nation's "Katseli Law" debt framework. The upcoming legislation uniformly applies a recent Supreme Court ruling, bypassing the need for borrowers to secure individual court orders.  The new framework corrects a systemic error where interest was erroneously calculated on a loan's full outstanding cap...

By ANTHEE CARASSAVA