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Photo via IMF photostream on Flickr [] IMF consultation report pinpoints health of Greek banks as central to growth

In the Article IV consultation report that was published on Friday, the International Monetary Fund (IMF) took a detailed look into Greece’s banking sector, as the Fund has repeatedly stated that restoring Greek banks back to health is a prerequisite for the country to attract investment and achieve higher growth rates, while it remains an area of fiscal and wider financial stability risks.

Photo via Flickr Watchdog raid strains testy relationship between banks and govt

Another chapter in the unexpectedly turbulent relationship between the new Greek administration and the country’s banks was written on Thursday when the Competition Commission raided the headquarters of the four systemic banks, Attica bank and the Hellenic Banking Association.

Commission gives go-ahead for APS to reduce NPL pile

The European Commission (EC) announced on Thursday that it approved the Greek plan, codenamed “Hercules,” for helping Greek banks remove up to 30 billion euros in non-performing loans from their books.

Banks highlight areas of concern in talks on NPL scheme

The Finance Ministry has redoubled its efforts to get over the line the Asset Protection Scheme (APS), codenamed Hercules, that is meant to help Greek systemic lenders reduce the stock of NPEs on their books by up to 30 billion euros through state guarantees on securitisations.

Photo by MacroPolis Athens looks to overcome APS snags as it awaits green light from Brussels

Finance Minister Christos Staikouras was due to meet the CEOs of Greece’s four systemic banks on Thursday as the government appears to be stepping up its efforts to secure approval for the Asset Protection Scheme (APS) aimed at reducing the giant pile of NPLs on their balance sheets.

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