Greek banks: Economic recovery nearing

Greek bankers on Friday expressed optimism that the time of economic recovery was near, helped by steps made in the last eight months and led by reformed tax legislation in the country. 

 

 Speaking to reporters after a meeting with Finance Minister Yiorgos Papakonstantinou and Regional Development and Competitiveness Minister Michalis Chrysochoidis, representatives of the Hellenic Bank Association acknowledged that pressure on Greek state bonds was making it harder for the economy to exit the crisis. 

 

 The meeting, part of a regular monthly contact, focused on developments in the banking system and in the Greek and global economy. 

 

 The meeting also discussed the distribution, by the Bank of Greece, of state guarantees worth 25 billion euros among Greek financial institutions. This is the third liquidity pylon offered to Greek banks as part of a government plan to boost liquidity in the local market. 

 

 Meanwhile, Chrysochoidis also briefed the banking sector representatives that the government will launch tenders for new programmes worth 4.0 billion euros in March, as part of a new development law. 

 

 He also cited the ministry’s policy priorities in the first three months of the year and noted that the ministry will begin talks with the European Investment Bank over a loan, worth 2.0 billion euros, to finance business programmes, while a new Business Fund was expected to begin operating by the end of January - with a capital of 1.4 billion euros - aimed at supporting liquidity in the Greek market.




ANA