Greek Dep. PM on ‘bad debt’ crisis: If we’re not careful, banks may be led to point of needing fresh capital

1 February 2019
137 Views

Greek Economy Minister and Deputy PM Yannis Dragasakis on Thursday again sounded “warning bells” over the high level of non-performing loans (NPLs) plaguing Greek banks’ spread sheets.

“We cannot underestimate the fact that Greece is the country with a high level of ‘bad debt’,” he said, in comments to a relevant parliament committee.

“If we are not careful, we may be led to measures that will bring banks to the point of needing fresh capital; and unfortunately, this (capital infusion) may again be footed by the Greek taxpayer,” he warned, while adding:

“We don’t have solutions, as in a manual, there is no guide to deal with the problem.”

Dragasakis also assessed that a new framework to protect primary residences from creditors – given that the current legal protection ends in late February 2018 – will be legislated next month or in early March.

You may be interested

Top 5 Beaches in the Cyclades
GREECE
shares14 views
GREECE
shares14 views

Top 5 Beaches in the Cyclades

Panos - Apr 23, 2019

The Cyclades are filled with beaches ranging from pleasant to amazing, but for those who love lists, here are the…

White House announces end of US sanction waivers for Iran oil imports
FINANCE
shares20 views
FINANCE
shares20 views

White House announces end of US sanction waivers for Iran oil imports

Panos - Apr 23, 2019

The White House says the US is ending exemptions from sanctions for countries that import Iranian oil. In a statement,…

Booking.com: 72% of tourists call for green travel to save the planet for posterity
GREECE
shares14 views
GREECE
shares14 views

Booking.com: 72% of tourists call for green travel to save the planet for posterity

Panos - Apr 23, 2019

As the world gears up to celebrate Earth Day on 22 April, Booking.com has released findings from its annual sustainable…

Leave a Comment

Your email address will not be published.