ATHENS - Greek banks are upping their game to contain a swell in delinquent loans that could threaten their viability.
But one senior banker admits that even after their best efforts, banks will have to cut debts owed by some businesses and households unable to recover from six years of recession.
'The debt load has to be revised ... we cannot refuse to do as a bank what we ask international creditors to do for Greece,' one senior banker said, referring to losses bondholders accepted on Greece's own bonds in 2010 as part of a bailout.
Tens of billion of euros of non-performing loans present a major headache for Greece's four largest banks, since they will struggle to get full repayment on the loans.
 |
| READ THE ORIGINAL POST AT www.thenationalherald.com |
