How long will it take for three of Attica’s municipalities to pay off their debts? The answer is stunning, as according to an article published in the Greek newspaper, Kathimerini on Sunday, municipalities have until 4144 – that’s right, 2,129 years.
It all comes down to a decision made by three ministers: then Interior Minister Nikos Voutsis (now parliamentary speaker), then Alternate Finance Minister Dimitris Mardas and then Labor Minister (and currently Interior Minister) Panos Skourletis. The three men made the decision back in April of 2015, ruling that the repayments of debts three Attica municipalities owe to state and social security funds should get an extension of 21 centuries.
How much do they owe? Enough. The municipality of Maroussi is in debt some 56 million euros and will be able to break even in about 166 years from now, while the city of Piraeus is 10 million euros in debt and will break even in around 13 years.
The winner of the debt owed goes to the northwestern municipality of Fyli which owes 469 million euros which it is set to be paid back in full by 4144.
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