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Reduction of "red" loans in Greece by 4.2% in the second quarter of 2018, says the Commission's report on risk reduction in the banking sector.
In Greece, the percentage of non-performing loans relative to total loans decreased from 46.9% to 44.9%, according to the report. Our country, however, continues to record the highest percentage of "red" loans in the EU, followed by 28.1% by Cyprus, with 28.1% of non-performing loans, down 16% from the previous year. in the second quarter of 2017., 4% of total loans). Portugal (11.7%), Italy (10%), Ireland (8.5%) and Slovenia (7.4%) compared to 15.5%, 12.2%, 11.6% and 11.4%, respectively, in 2017.
On average in the EU, non-performing loans decreased by 3.4% in the second quarter of 2017, from 4.6% to 3.4%, down 25.3%.
"The work must continue"
This is very encouraging, according to the Commission, but stresses that efforts to solve past problems in the sector since the beginning of the financial crisis must continue.
"The work should continue, especially in countries like Greece and Cyprus, where there is a reduction, but they started at very high levels.The online auction system is only showing results," Vice-President Valdis Dobrobowski said under RES.
Asked about the merger of Eurobank, he replied that the European Commission is currently considering the operation, for which more details are needed. He also said that the Commission was checking whether the bank fulfilled its state aid obligations in 2015 and "appeared to be reacting".
According to the Commission, financial stability has increased considerably in recent years and risk reduction in the EU banking sector is continuing at a sustained pace – as the Commission has emphasized in its two announcements in view of the December European Council and the euro where decisions should strengthen the European Economic and Monetary Union. At the same time, efforts for financial stability and integration must be pursued and it is now time for the co-legislators to agree on all outstanding key issues.
"Reducing outstanding non-performing loans is part of the risk reduction efforts in the European banking sector, and we hope to quickly reach agreements on the bank and nonperforming loan package," said Dobrovski. He urged ministers and EU leaders to agree in December on specific risk-sharing measures.
"The Capital Markets Union is playing a leading role in strengthening the Economic and Monetary Union and the euro, and more integrated financial markets will be able to absorb better shocks before the end of the crisis. they do not reach the taxpayers – wider European capital markets, with more depth and more liquidity, will also lead to wider use of the euro by market players in their daily activities ", added the vice president of the European Commission.
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