Greece’s four systemic banks- Piraeus bank, Eurobank, National Bank and Alpha bank – have successfully passed the stress tests of the European Central Bank. The stress tests results were published on Saturday and were conducted earlier than for other European banks, because Greece is to exit the bailout program in upcoming August.
2018 #Greece banks stress tests find no capital needs #banking pic.twitter.com/k5NETTKWrF
— Yiannis Mouzakis (@YiannisMouzakis) May 5, 2018
The four biggest banks of Greece would lose around 15.5 billion euros worth of their capital by 2020, or 9 percentage points of capital under an adverse economic scenario, the ECB said.
The health check, aimed at uncovering any capital shortage before Athens exits its 86 billion-euro ($106 billion) bailout in August, was carried out separately from a stress test of other euro zone banks.
Test results for 33 lenders from other euro zone countries will be published in early November.
PS I suppose, broke Greeks are proud that the banks they have recapitalized are doing great. Meanwhile, debts to the state have reached 101 billion euros.
Cynical, as ever, or realistic? What proportion on the Greek citizenry understand what the next 42 years have in store? Your past leaders have signed up to fiscal imprisonment on an insupportable national scale, Add personal indebtedness and the fact that the best young people have fled during the past ten years, many never to return, except as tourists.
@Rosemary and beyond: The sad part about Greece is that for a small window of time in my life, literally 15 years, it was a Shangri-La fantasy land from the 1980s to the mid 1990s. It was a place that if I could compare to my home in a large Metropolitan US city, that was free of crime, filled with aesthetically pleasing happy people who slept on their balconies, fried fish and potatoes in olive oil, and had their daily protests and went on with their lives. Myself as the foreigner, I settled in to this ritual of not feeling afraid or looking over my shoulder even at night wondering if someone will rob me or my belongings. Greeks and their filotimo were in tact, with of course few exceptions. However, fast forward to the year 2018 and beyond and I wonder if Greece will just become like every other place on the globe with crime, loss of small town “takes a village” charm and has become globalized. At least I had the opportunity to live in a Greece of yesteryear. BUT, maybe it can return to the charm of the past, and in that I will move to the smallest Greek island I can find (with a medical office) and live out my days in peace and filotimo, and with the view of the beautiful Greek women who has not changed at least….