Greek Banking System

Amidst the generalised uncertainty in the global economic confluence of events – and the uncertainty caused by Greece’ three-month electoral campaign - last thing one wants is turbulence in the financial system.

The government has repeatedly underlined that the plan aims to reduce the percentage of NPEs (non-performing exposures) to a single-digit number by 2022 at latest.

The easiest and simplest thing is to declare your opposition to home foreclosure auctions and to support housing for everyone without hesitation or reservations.

Credit institutions and managers owe almost everything to this circle of faithful depositors – their continuity and even their existence.

The Greek banking system which is mired with the huge burden of non-performing loans is essentially unable to play its proper role.

One simply does not have the funds and the fiscal and other tools required to remedy the accumulated economic problems in one fell swoop.

There is the basis of an economic recovery even as the banking system moves in the direction of an excellent clientele and of the competitiveness that the economy needs.

The country seems to slowly be leaving the crisis behind but a state of emergency exists in various sectors which could set alight a new fire.

The PM and his ministers may say that they are prepared and have specific plans to deal with the critical issues that they face, but the solutions are anything but simple.

The credit rating agency projected that the recent improved climate will lead to a hike in deposits, a gradual reduction of non-performing loans (NPLs), and improved prospects for profit.

The Bank of Greece rang the alarm bells over the danger of fiscal derailment due to Greece’s Council of State rulings which deemed unconstitutional earlier pension cuts and the abolition of holiday bonuses.

We make mistakes and sometimes unpardonable ones, Deputy PM Yannis Dragasakis told Parliament about arrangements on resolving non-performing loans.

A resolution of non-performing loans that were issued for borrowers to buy their primary residence was necessary.

Dimitris Tzanakopoulos said that lack of protection from foreclosure was a strategic choice of both New Democracy and Pasok because 'in the world of corrupt vested interests which they defend, the weak and vulnerable are not entitled to protection'.

The IMF report said that the government should bolster its legal arsenal to allow a reduction of NPLs on private sector terms

Mr. Tsipras must decide if he will become a European Social Democrat or whether he will again opt for opportunistic choices and easy, hollow pledges.

The two sides agreed that the maximum tax value of the protected property will be 250,000 euros and the maximum value of the remainder of a loan for which a home was used as collateral will be 130,000.

The government has provoked an institutional crisis and is responsible for the perpetuation of the economic crisis.

Under the terms of the revised plan, an estimated 250,000 homeowners and small business owners will qualify for protection.

'Scenarios of a recapitalisation of banks exist only in the imagination of journalists who engage in danger-mongering for their own reasons.'

The banking system took a blow in the first half of 2015 which was sealed by the closing of Greek banks and the impositon of capital controls.

The current protection ceiling for primary residences – between 180,000 and 280,000 euros – is viewed as unrealistic by both the banks and creditors.

Something inconceivable is happening: The finance minister is on a road show in Hong Kong to lure investment, and the prime minister brushes off the central banker, and indeed unleashes targeted attacks against him.

The truth is that Greek banks are in a much better position than they were two years ago. They have improved their position. Their liquidity is better, and they are earnestly trying to reduce the burden of NPLs.

The situation was aggravated when the government showed in every way possible that it is more motivated by its electoral pursuits and political aims than by anything else.