Greek Banks Ready to Implement Law on 'Bad Loans', Says Piraeus Bank Chief

Banks are ready even at a technical level to start implementing the law of non-performing loans, right after it is voted in Parliament, the President of Piraeus Bank Michalis Sallas told reporters after a meeting with Prime Minister Antonis Samaras and other bankers and government officials at Maximos Mansion on Tuesday. 

Sallas said he agrees with the law adding that the next steps after the completion of the stress tests for the Greek banks were discussed at the meeting. "It (the stress tests) was a very positive development and opens the way to the financing of the economy," he said.  

The head of Piraeus Bank also said they discussed economic growth and with the Greek economy expected to grow 2-3 percent in the next year, banks will be able to support this plan.