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Home2020May

Month: May 2020

EU Commission gives a warning  on Greek banks
News

EU Commission gives a warning on Greek banks

20 May 2020 Editors

Implementation of the Hercules scheme is temporarily being postponed, though one securitization transaction is in the process of being finalized.

Eurobank: Bad debt in hotel sector at 370 mln euros
Highlights

Eurobank: Bad debt in hotel sector at 370 mln euros

20 May 2020 Konstantinos Papagrigoris

The bank has applied for the guarantees from Hercules for all three Cairo titles and for the first two, the issue is expected in the coming days. The doValue deal is also expected in the coming days.

Eurobank CEO on NPEs, Bad Bank and fresh capital needs
Finance

Eurobank CEO on NPEs, Bad Bank and fresh capital needs

20 May 2020 Editors

Eurobank’s  CEO Fokion Karavias estimated that Greek NPEs will increase due to the pandemic but the problem will be lower compared to the 10-year crisis and manageable.

George Zavvos: We address new reforms in the capital markets
Interviews

George Zavvos: We address new reforms in the capital markets

20 May 2020 Editors

Hercules has been the boldest reform of the new government addressing in a systemic move the NPL problem, without using taxpayer money and relying on investors.

New Debt Settlement Scheme underway
Finance

New Debt Settlement Scheme underway

20 May 2020 Christos N Konstas

Greek Finance Ministry said it examines a new framework for supporting borrowers who are affected by the CoViD-19  crisis, with…

More than 200.000 loans have been restructured
Highlights

More than 200.000 loans have been restructured

19 May 2020 Editors

Until the end of March, when banks and servicers were able to suspend payments of loan tranches and amortization payments…

Aegean Airlines will not give equity in exchange for government support
News

Aegean Airlines will not give equity in exchange for government support

19 May 2020 Editors

Chairman  Eftychis Vassilakis called on the government to take action and alleviate the unprecedented challenges faced by the flag carrier amid the Covid-19 turmoil.

PM’s top team, lawyers work on bankruptcy law
Featured

PM’s top team, lawyers work on bankruptcy law

19 May 2020 Konstantinos Papagrigoris

The writing and overall supervision of the new bankruptcy code have been taken over by Alexis Patelis, chief economic adviser to the prime minister and Akis Skertsos, deputy minister to the prime minister, along with the Potamitis law firm.

What FITCH Ratings thinks of Greek Banks
Finance

What FITCH Ratings thinks of Greek Banks

19 May 2020 Editors

Fitch Ratings affirmed the Long-Term Issuer Default Ratings (IDRs) of the 4 systemic Greek banks, namely Alpha Bank (CCC+), Eurobank (CCC+), NBG…

Germany and France agreed on a 500 billion euro fund
Featured

Germany and France agreed on a 500 billion euro fund

19 May 2020 Editors

German Chancellor Angela Merkel and French President Emmanuel Macron agreed to push for a 500 billion euro recovery fund in an effort to create a joint fiscal response to help EuropeanUnion recover from the coronavirus pandemic. 

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