State credit score in Greece since September: who and how will assess the financial reliability of citizens

From September 2026 year in Greece moves to full-fledged work of the state system of credit assessment of citizens and companies: algorithms will analyze income, property, tax and insurance debts, installments, foreclosures and bankruptciesforming a single indicator of financial reliability.

Table of contents

• What exactly is launched
• What data will the system see?
• How will the algorithm evaluate a person?
• How to get your rating
• Who can see the credit score
• Can a bad rating block access to a loan?
• Why is the €500 cash limit important?
• Rent, electricity and BNPL: what is real and what is still an assumption
• What to do if there is an erroneous rating
• The main risks of the new system
• Regulatory framework

What exactly is launched

The Ministry of National Economy and Finance has officially introduced two new digital tools: Private Debt Monitoring Register and Credit Scoring System.

The legal basis appeared in Law 4972/2022however, it was in the summer of 2026 that the technical rules necessary for the practical operation of the system were approved.

“Athens News” has already discussed in detail the rating scale and data sources in the material “From AA to Δ: the state will assign a financial reliability rating to Greek citizens”.

Now the main question is no longer the design of the scale, but How will this assessment be used in practice?.

What data will the system see?

The list is much broader than simply checking the existence of a tax debt.

According to article 53 of law 4972/2022 and decision 117786 ΕΞ 17-07-2026, ΦΕΚ B’ 4436/21.07.2026the system receives information from several government databases.

Declaration data is used from AADE E1, E2, E3 and Ninformation on income and expenses, real estate and ENFIA, confirmed tax debts, their payment schedules, payments and current installment plans.

In addition, information about enforcement measures.

The KEAO database provides data on insurance debts, periods of debt, payments, installments, as well as auctions and forced collection.

From the Electronic Register of Solvency, the system receives information about bankruptcies and auctions.

How will the algorithm evaluate a person?

The technical part of decision 117786/2026 is especially interesting.

It directly provides for the development and training of algorithms for calculating:

• ability to repay obligations;
• intentions to make payments;
• the likelihood of violation of obligations to the state;
• hereinafter – the probability of default according to the combined assessment.

That is, we are not talking about the primitive formula “if you have debt, you have a bad rating.”

The system analyzes past financial behavior and statistically attempts to predict how likely a person or company is to will not fulfill obligations in the future.

For a number of models, a horizon for assessing future behavior in 12 months. The technical methodology also includes a significant delay of €100 for individuals and €500 for companies and a delay period of 90 days as one of the modeling parameters.

At the same time, the normative act directly mentions training algorithms, dividing citizens into groups – clusters – and testing their predictive ability.

How to get your rating

The application is submitted electronically with authorization via Taxisnet.

After submission, the system assigns a protocol number to the application, and the result should be generated within a maximum of 24 hours.

The citizen receives the document in his e-mail box, and the company receives it in the mailbox of his legal representative.

For individuals, a scale is used AA, A, BB, B, Γ and Δ. A more detailed scale is provided for companies.

The issued credit score is valid three monthsafter which you can request a new one.

Who can see the credit score

Here lies one of the most important legal guards.

Article 58 of Law 4972/2022 provides that a private organization can obtain a credit rating only after express, specific and separate from other terms of consent the citizen himself.

Moreover, consent simultaneously means permission to process the necessary financial data and remove tax secrecy to the extent necessary to calculate the rating.

If the person does not provide consent, the law expressly states that the relevant data for such a request will not be collected and the assessment will not be transferred to the private organization.

Can a bad rating block access to a loan?

Potentially yes. Automatically by law – no.

This is a fundamental difference from the emotional interpretation, according to which the category Γ or Δ immediately means a ban on credit.

However, the law expressly allows private organizations to request ratings for:

• reviewing a loan application;
• risk assessments when providing financing;
• control of an existing credit line;
• changes in the terms of the loan agreement;
• consideration of debt restructuring.

Therefore, a bad rating is indeed may become one of the factors for refusal, limit reduction or offer of less favorable conditions. But the specific decision is made by the lender, not the state algorithm.

Why does the question about €500 cash appear here?

The original critical material gives an example of a citizen who was denied an installment plan for the purchase of goods worth €800.

This example has a separate legislative basis: in Greece, transactions between a business and an individual with a value €500 or more must be paid by card or other electronic means.

Law 5301/2026 further tightened this rule: a company that accepts cash in violation of the restriction risks receiving a fine in the amount of double the amount accepted in cash.

But here it is important not to mix different mechanisms. State credit score itself does not block a debit card and does not prohibit a person from spending his own money. If €800 is in an available bank account, the purchase can be paid electronically regardless of credit score.

Rent, electricity and BNPL: what is real and what is still an assumption

The greatest caution must be exercised here.

Neither Law 4972/2022 nor Decision 117786/2026 do not set automatic rulesaccording to which a citizen with a bad rating will be denied an apartment rental, an electricity connection, a mobile contract or a purchase through Klarna.

For installment and BNPL services, the risk is more obvious, since by their economic nature this is lending and assessing payment risk is a common practice for them.

But the transformation of a state certificate into a mandatory document for landlords, energy companies or telecom operators cannot yet be passed off as a valid norm.

However, the concern is not entirely theoretical. Even earlier, the creation of tools that would allow owners to check the financial discipline of potential tenants was discussed. “Athens News” wrote about this in the material “Property owners will be able to screen potential tenants”.

What to do if the rating is incorrect

The law provides for the possibility of challenging the initial data.

If, after issuing a rating, it turns out that the information has changed or contains an error, a person can submit an electronic application for correction or addition of data and attach supporting documents.

After the request is satisfied, the information is requested again and the credit score is recalculated.

This is especially important in cases where the debt has already been repaid or settled, and one of the state databases has not yet had time to be updated.

What is the real danger of the system?

The main risk is not the existence of the rating itself—credit institutions have been using similar tools for decades.

The novelty is that now the state itself transforms a huge array of administrative information into a single predictive characteristic of a person.

Moreover, the law allows the state mechanism to exchange ratings with credit assessment organizations and form combined credit score.

Today, transfer to the private sector formally requires consent. But the main question comes later: How voluntary such consent will be in practice?if the bank tells the client: “We will not consider a loan application without a credit score.”

Legally, a person will be able to refuse. Economically, such a refusal may mean the inability to obtain the necessary service.

This is why there is concern about a possible “self-perpetuating rating” effect: a person with temporary financial problems receives a bad rating, faces more expensive or limited financing because of it, and as a result gets even more difficult to restore a normal financial situation.

Editorial comment

Regulatory framework

• Νόμος 4972/2022 – ΦΕΚ A’ 181/23.09.2022 — the basic law on the state credit assessment system.
• Article 51 of Law 4972/2022 — establishment of a credit assessment system for individuals and legal entities.
• Article 53 — a list of economic behavior data used by the system.
• Article 57 — receipt by a citizen or company of its own credit assessment.
• Article 58 — provision of ratings to private organizations and mandatory consent of the citizen.
• Article 60 — exchange of assessments with credit institutions and formation of a unified rating.
• Article 62 — processing of personal data and removal of tax secrecy as part of rating calculations.
• Decision 117786 ΕΞ 07/17/2026 – ΦΕΚ B’ 4436/07/21/2026 — technical methodology, data sources, algorithms, application procedure, assessment validity period and data correction.
• Ministry of National Economy and Finance — official presentation of the Private Debt Monitoring Register and the Credit Scoring System.
• Law 5301/2026, article 38 — a ban on businesses accepting cash for B2C transactions worth €500 or more and liability for violation.

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