It is the other side of the debt crisis that is affecting Greece, and perhaps the toughest one. The real economy is suffocated by a disproportionate growth in overdue checks and bills whose value, according to local economists, could exceed 2 billion euros by the end of the year.
Bad checks issued by the Greeks since January 2011 would amount to a total of 1,38 billion euros, an increase of 43,3% compared to the same period last year. While overdue bills would have increased by 6,47% compared to the first seven months of last year for a value of approximately 134 million euro. These are the data that emerge from the Tiresias banking computer system.
According to research by the General Confederation of Hellenic Small Businesses (Gsevee), around 45% of companies that receive payments by checks have overdrawn ones or those at risk of being so. According to Gsevee, this phenomenon is spreading with a domino effect on the market, threatening the survival of even the most solid companies.
