Amid market turbulence, Greece searches for scheme to help banks reduce bad loans

EconomyBanking Tags: Banking, BoG, HFSF
Photo by Panayotis Tzamaros/Fosphotos
Photo by Panayotis Tzamaros/Fosphotos

Following weeks of uncertainty and pressure on the banking sector, which climaxed in a big drop in bank share prices on Wednesday, there have been reports of efforts to provide the Greek lenders with assistance.

The Greek authorities along with Bank of Greece, the Hellenic Financial Stability Fund (HFSF) and European institutions are reportedly working on plans to accelerate the reduction of bad loans from the banks’ books by assuming part of the non-performing...

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