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
Erdogan bizarre statement: Greece slowly accepting the status-quo Turkey declared in Mediterraneanmakis - Feb 19, 2020
In an incomprehensible statement, Turkish President Recep Tayyip Erdogan said that Athens has begun to accept the status quo declared…
Venezuelan “blood gold” could be used to fund terror attacksPanos - Feb 19, 2020
A plane that made a forced landing in the Caribbean was carrying a ton of Venezuelan gold, which may have…
Turkish Foreign Minister Cavusoglu: Minority in Thrace is and will remain TurkishPanos - Feb 19, 2020
Turkish Foreign Minister Mevlut Cavusoglu launched an attack on the President of the Hellenic Republic, Prokopis Pavlopoulos for mislabelling the…