High participation rate helps bond swap tick box
Greece continues debt management with swap of bonds worth 30 bln
Retail sales continue their rise in July as consumer confidence improves
Rating agencies concur in improved prospects for Greece
Fitch upgrades Greek rating to B-, sees debt sustainability improving
Greece completes first bond issue in three years, eyes more on way out of programme
Greek banks’ loan quality is deteriorating
One of the most worrying conclusions to emerge from the conference calls that followed the announcement of the Greek banks’ 2014 financial results was the deterioration of the quality of their Greek loan portfolios in the first two months of the year.
This was mostly evident in household lending portfolios and particularly in housing loans, ahead of the implementation of SYRIZA’s proposal for a settlement of non-performing loans (NPLs), which has still not been specified.
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