Municipality of Acharnes declares bankruptcy


eKathimerini — The Municipality of Acharnes, north of Athens, on Wednesday declared bankruptcy, the third to do so in the last 12 months.

The mayor of Acharnes, Yiannis Kassavos, said the municipality’s budget deficit had reached 10.27 million euros, adding that the state Consignment Deposit and Loans Fund had rejected an appeal for a loan, citing the municipality’s dubious creditworthiness.

Last year, the municipalities of Salamina, an island off Piraeus, and Gortyna, in the Cretan prefecture of Heraklion, declared bankruptcy.