A. Endria advocates the set up of a bad bank

The Bank of Greece is working on a plan for the creation of a “bad bank” to which all nonperforming loans (NPLs) of banks will be transferred. Still, as reported by the FT, the EC recently rebuffed an ECB proposal for a euro zone-wide bad bank.

NPL rate still high at 40,3%. ***In total  NPLs of 10.06 bill.euros are under legal protection. ***
29.7% of mortgages NPLs are now under a legal protection scheme.

* Current legal framework for the protection of primary residences an extension until the end of 2020.