For many, the struggle began during the 2009 debt crisis. George, a jeweler near Athens, saw his €100,000 loan swell as his business stalled. His debt, now doubled by unpaid interest, remains tied up in a legal system struggling to process a massive backlog of non-performing loans. He is one of 1.5 million Greeks, including thousands of small business owners, unable to access basic banking services like credit cards or investment capital.

While the Greek government claims recent reforms and the hiring of 1,000 additional judges have reduced processing times to an average of 315 days, skepticism remains. The Justice Ministry projects full resolution of these cases by 2028, but legal experts and government officials warn the reality is far bleaker. Lawyer Nana Papadogeorgaki notes that some cases are currently scheduled for court dates as late as 2035, with actual resolution times often stretching to 1,000 days.

The bottleneck stems from a 2015 framework that transferred €110 billion in bad loans to specialized credit servicers. Because most of these loans are backed by primary residences, borrowers have flooded the courts to avoid foreclosure, creating a cycle of litigation that keeps nearly one-third of the country's GDP effectively frozen. The Hellenic Loan Servicers Association, representing firms like Do Value and Intrum, blames the gridlock on inconsistent judicial rulings and an over-reliance on legal intervention rather than negotiation. Until this mountain of debt is cleared, many entrepreneurs, like a hotel owner on Crete facing an impossible €2 million repayment demand, remain unable to invest in their future.