BoG Gov. emphasizes need to reach quick solution with EU partners

The BoG director also underlined the need to address the issue of non-payable loans

“Greek banks have a sufficient capital foundation but Greece and its partners must settle on a final, mutually agreeable solution”, according to BoG Gov. Yannis Stournaras on Thursday.

He spoke from the podium of the Annual BoG General Assembly.

 

Stournaras continued to maintain that the Greek economy will grow in 2015, although he declined to give an estimate. Moreover, he underlined that Greek banks need liquidity in order to fund fiscal growth.

 

He added that the non-acceptance of Greek bonds by the ECB as collateral dried up liquidity in Greek banks, but he estimated that after the extension agreement, the ECB may begin accepting T-Bills.

 

Finally, he underlined the need to address the issue of non-performing loans in the country, which reached 34.2% of total loans in September, compared to 31.9% in 2013.