Taking over the House Economic Affairs Committee from Mr Kostis Hatzidakiswho praised himself for the disinvestment of the Financial Stability Fund in the systemic banks with a loss – according to KEPE – of 40 billion Euros for the public, the governor of the Bank of Greece rang the alarm bell for the possibility that the course of reducing the “red » loans to Greek banking institutions.
Referring to the challenges facing the banking system and the Greek economy in general, Yiannis Stournaras cited the parameters that constitute a dangerous cocktail that could lead to “adverse effects on the quality of the portfolio of Greek banks”.
“The environment of persistently high key interest rates and the associated cost of financing combined with reduced growth in economic activity, increased production costs and compressed real household disposable income will continue to put pressure on the financial position of households and business” he said and found that “something like this will possibly have adverse effects on the quality of the Greek banks’ portfolio”.
In fact, he noted to indirectly set the bar that “major banks are aiming for a further reduction of non-performing loans in the next three years, approaching even closer to the European average. which amounts to 1.9% with December 2023 figures”.
From there, he decided that the disinvestment of the HFSF in banking institutions “proves that the Greek banking system has returned to normal”.
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