red loans

ECB: Greece Should Complete Reforms to Help Banks Reduce Bad Debt

Greece should complete the reforms needed to help banks reduce bad debt and deal with the impact of the COVID-19 pandemic, the European Central Bank said, according to Reuters. The coronavirus crisis has stalled the efforts of Greek banks to...

Greek Banks Make Some Progress in Tackling Bad Loans

Greek banks made progress in tackling bad loans in the first quarter, according to Bank of Greece data released on Tuesday. However, nonperforming corporate, housing and consumer loans accumulating during the crisis year continue to account for more than half of...

Juncker Exposes the Greek Government's Initiative to Sell Off 'Red Loans'

European Commission President Jean-Claude Juncker said that it was Greece's decision to sell the non-performing loans (NPLs) to foreign funds. Juncker refuted that the Greek government had been forced to legislate the sale of these so-called "red loans" (NPLs) to "vulture funds"...

Four Firms Apply for Red Loan Management License in Greece

Four companies have submitted applications to the Bank of Greece to obtain a license to manage nonperforming loans (NPLs) of households and small businesses, according to a Kathimerini report. The firms will not be buying the loans, but their only...

Greek HFSF Stability Fund Board Members Tender Resignations

Members of the Hellenic Financial Stability Fund have tendered their resignation to be made effective on July 18, 2016. The decision was made so as to ease the future choices concerning the role that the HFSF will play in...

Greece, Creditors Closer to Completion of Bailout Program Review

After four hours of negotiations with creditors' representatives late on Tuesday, Greece is coming close to the completion of the bailout program review. Only one issue remains open, with the Greek side hoping that it will be resolved soon. Specifically,...

Gov't Sets to Work on Pending Issues: NPLs, Privatization, Contingency Measures

The government is already drafting the bill to close the remainder of open issues prior to Greece's program review before the next Eurogroup on May 24, said government sources following the cabinet meeting headed by leftist SYRIZA Prime Minister...

'Red' Loans Management to Unsettle Greek Parliament

The hot issues of 'red' loans management and the privatization of the Independent Power Transmission Operator (ADMIE) will be tabled in Greek Parliament on Monday amid strong reactions from opposition parties. Large business loans and second home mortgages will be...

Thorny Issues Remain Unresolved in Greece-Creditors Negotiations

The opening of the energy market, the privatization fund and the management of bad loans are the issues stalling negotiations between Greece and creditors. The issues need to be resolved by Friday night at the latest, otherwise Athens will be...

Greek 'Red' Loans to be Sold to Foreign Distress Funds

Greece's creditors ask for a comprehensive bad loans settlement plan to be completed and legislated by December 15 as part of the bailout agreement requirements. After resolving the non performing mortgages issue, the Greek government has to present a strategy...