[ad_1]
"The king is naked"! This is not the well-known and extravagant narrative, but rather the reaction of the Europeans, who seem to have discovered the problem of private debt in Greece and the threatening volume of "red" borrowing.
The government and the government, which until then was at the origin of Europe's dominant position on the strength and dynamism of banks, have negotiated two plans to "offload" problem loans. , considered a landmark to break the threatening clouds, above the banks and the economy in general.
Until now, the very diplomatic language used inside and outside Greece was that the volume of "red" loans was large, but that banks, overcapitalized, could achieve their reduction goals while contributing to the financing of the economy. as long as they intensify their efforts! Since the last report of the European Commission, it appeared that something was changing in the phraseology and exchanges have already started on how Greek banks can get rid of the burden of distressed loans more quickly before They do not sink and drag out all the economy.
The figures published by the Commission are really revealing, because they show that the "red" loans in Greece have exceeded the limits, and even if the banks have reached their reduction targets by 2021, they are far from the rest of the countries. In fact, as these figures show, it would not be an exaggeration to badume that Greek banks look like "zombies" because they are currently unable to fulfill their role as "blood donors" in the past. economy. Private borrowing accounted for 48.4% of all loans, the only one closest to Cyprus, which also paid for the crisis, which was launched by the banking sector. From then on, chaos, since even Portugal and Ireland are at least 35 percentage points lower.
It is only in the context of these elements that we can now explain the rush of the government, so that the "bomb" does not fall on him. As reported by typical sources in the review process of the two "red" loan reduction projects, it is only if the banks regain a convincing profitability that they can fulfill their role and this can not happen with "weights" of nearly 90 billion euros.
Among the initiatives that banks began to take, but also the pressures that Europeans began to exercise, the next day, the "red" borrowers see more "gray". The Katselis law "disappears" and the estate will apply only to very low-income households and real estate whose value will not be six-digit. The arrangements will become more realistic and more daring, but the windows of convenience will close faster. Sales of "loan" packages in the funds will multiply, which means that the pressure on these borrowers will become intolerable. The auction will increase significantly and it is indicative that 24,552 were posted on the special platform, reaching July 5, 2019 …
[ad_2]
Source link
