European Central Bank will check thoroughly 7,000 business loans in Greece, under Asset Quality Review (AQR) conducted by the ECB on 128 systemic European banks, including four Greek banks. Quality review will be followed by stress tests which will check the strength of banks under various economic scenarios.

ECB’s review is more strict than the previous, which has caused the reaction of Greek Finance Minister Gikas Hardouvelis.

Mr. Hardouvelis speaks in strong terms about planned ECB stress tests and mentions that it will have implications for Greek economy.

His main concern is that the value of loans related to real estate will be calculated with current low market value and the fact that ECB will take into account data of the end of 2013 without calculating the capital added after capital increases of 2014.