Non-performing loans with state acting as guarantor to be sold to funds

31 May 2016
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The Greek government is still trying to complete the program review, while during a new teleconference between Finance Minister Euclid Tsakalotos and the representatives of the institutions an agreement on specific issues seems to have been reached.

Specifically, the abolition of the EKAS benefit will be applied gradually from June 1st, 2016 and not from January 1st, 2016, while regarding the non-performing loans where the state acts a guarantor, the government will table an amendment which will allow selling the non-performing loans with the state as guarantor to be sold to funds.

Despite the fact that Mr. Tsakalots tries to persuade everyone that the program review has been completed, there are still many prior actions to be fulfilled so as to get the next tranche of 7.5 million euros.

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