Political, Economic Stability Key in Allowing Banks to Support Economy-Head of Banking Body

Political, Economic Stability Key in Allowing Banks to Support Economy-Head of Banking Body

Political and economic stability as well as the effective management of non-performing loans (NPLs) are two of the five main preconditions that would allow the domestic banking system contribute effectively to Greece’s growth and provide loans to small and medium-sized businesses, the head of the Hellenic Bank Association, Louka Katseli, said on Tuesday.
Katseli, who is also the governor of the National Bank of Greece (NBG), was speaking at an event organized by Greek-German Business Forum and the Economist Conferences on Greek innovation and the role of start-ups in the economy’s return to growth.
The NBG governor said the first precondition is to complete the country’s program review to achieve political and economic stability in the country so that banks can help the real economy. “The banking system, not only in Greece but also internationally, is not isolated from the wider economic and political environment. The successful completion of the first review of the Greek program is the first key parameter in building confidence and reducing uncertainty,” she said

ANA-MPA

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