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> Economy

Stournaras to banks: Throw money in the market now

Director of BoG urged banks to help stimulate the economy after the end of the stress tests

Newsroom November 1 01:51

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Once again the Director of the Bank of Greece urged for the banks to contribute to uplift the Greek economy.

Mr. Yiannis Stournaras requested from the banks to throw money in the market.

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In his statement to the “Editors newspaper” the former Minister of Finance said that the Greek banking system has turned a page and how a few days before undertaking the supervision of four systemic banks from the Single Supervisory Mechanism of the ECB on the 4th of November,  the four Greek banks faced a significant challenge of stress tests of the ECB.

According to Mr. Stournaras the above allows them now to focus their efforts on supporting the real economy, with financing companies and households and to address the problem of non-performing loans.

Finally, the Director of the Bank of Greece stressed that: “The Greek banks now rely on more solid foundations than in the recent past, since they have significantly strengthened its capital position -as seen from the evaluation of the ECB, in order to contribute to the restructuring of the Greek economy” .

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