Greek Dep. PM on ‘bad debt’ crisis: If we’re not careful, banks may be led to point of needing fresh capital
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
Russia to complete delivery of S-400 missile systems to Turkey by the end of 2019Panos - Feb 19, 2019
Russia will complete the deliveries of advanced S-400 surface-to-air missile systems to Turkey by the end of this year, CEO…
Central bank seeks clarifications from Attica Bank over minister’s 100K loanPanos - Feb 19, 2019
Two top Attica Bank executives - its deputy CEO and managing director - met urgently on Monday with Bank of…