April 2020 - Page 5 of 10 - NPL Confidential

Greece raised 2 billion euros with new 7-year bond issue

16 April 2020 Editors

The outcome of the 7 year bond auction proves that the markets have confidence in the government and the Greek economy.
Greece has tapped sovereign debt market six times since bailout exit, raising 13.5 billion euros

Loan servicers change business plans to offset revenue drop

15 April 2020 Konstantinos Papagrigoris

Loan servicers have started discussions with the funds, with the main requirement being the adjustment of fees in combination with recovery objectives, the official said.

IMF forecasts 10% contraction in 2020

15 April 2020 Editors

At its latest Fiscal Monitor IMF, estimates that Greece GDP will dive 10% in 2020, before rebounding by 5.1% next…

Greek banks borrowed 12.35 billion euros from the ECB in March

15 April 2020 Editors

Greek banks’ ECB borrowings (entirely LTROs) rise by EUR4.75bn month on month in March. Funding to Greek lenders provided entirely…

Staikouras: Payment culture must be preserved, strategic defaulters will be punished

15 April 2020 user 02

Last night, in an interview with Action 24 TV, Minister of Finance Christos Staikouras mentioned the following: the government does not plan to…

Moodys non-performing loans in Europe; collections will slow from coronavirus outbreak

14 April 2020 Editors

Moody’s Investor Services estimates that measures to deal with the coronavirus outbreak in Europe, will cause disruption that will slow collections on non-performing loan (NPL) securitisations.
The expected growth in NPLs will reverse the previous trend.

Economic consequences of the pandemic and its impact on the Greek economy

14 April 2020 Editors

Op-Ed exclusive in NPL Confidential by Panos Tsakloglou, professor at Athens University of Economics and Business.

F. Kourmousis, the government will give a second chance to distressed borrowers

14 April 2020 Athina Korlira

Coronavirus has caused a financial crisis, which has led both households and businesses to not being able to repay finanicial obligations on time. The government is preparing a new law for debt repayments -and if that is not possible- will then considers writing off debts, giving everyone a second chance.

Creditors demand home auctions now; Greece to extend protection law

14 April 2020 Konstantinos Papagrigoris

Creditors, mainly the ECB, opposed any long term extension to primary residency protection.
The Greek government sends a strong message that it will immediately take the necessary legislative initiative to protect main residence.

Greek hoteliers, 47% say that bankruptcy is likely to happen

14 April 2020 Editors

Greek hoteliers expect enormous economic damage from the coronavirus pandemic crisis.
The Hellenic Chamber of Hotels published the 3rd part of a survey called “COVID-19 and Greek hotels.