President of the Greek banks expresses concerns over non-performing loans

11 April 2017
660 Views

The President of the Hellenic Bank Association, Nikos Karamouzis expressed his grave concerns about the dangers for the country’s systemic banks in relation to the non-performing loans.

The Greek banker went on question the effectiveness of the legislation submitted by the Greek government regarding the issue of out of court settlements for arrears. Speaking before the parliament’s competent committee deliberating on the draft, Mr. Karamouzis warned the members that if the matter of non-performing loans was not addressed as soon as possible the situation would become irreversible.

“The longer the problem of the non-performing loans is not dealt with, the more it becomes impossible for the Greek economy to be funded”, he said. He continued by saying that the Greek banks would be subjected to stress tests in 2018, which is why the percentage of non-performing loans should be limited.

Mr. Karamouzis voices his reservations in relation to the draft bill under discussion saying that he was doubtful whether it would alleviate any pressures from the banking system.

You may be interested

Sports Tourism: Pakistan’s street cricketers bring game to life in Greece
GREECE
shares54 views
GREECE
shares54 views

Sports Tourism: Pakistan’s street cricketers bring game to life in Greece

Panos - Jul 19, 2019

In a barren Athens parking lot, young Pakistanis get in position for a game of cricket. On one end of…

Iran seizes foreign tanker, US vows to protect vital Gulf waterway
FINANCE
shares48 views
FINANCE
shares48 views

Iran seizes foreign tanker, US vows to protect vital Gulf waterway

Panos - Jul 19, 2019

Iran said on Thursday it had seized a foreign tanker smuggling fuel in the Gulf, and the U.S. military commander…

Margaritis Schinas will be the new Greek Commissioner
GREECE
shares42 views
GREECE
shares42 views

Margaritis Schinas will be the new Greek Commissioner

Panos - Jul 19, 2019

The person that the new Greek Prime Minister Kyriakos Mitsotakis will propose for the position of the Greek Commissioner is…

Leave a Comment

Your email address will not be published.