Editorial

Banks have to prepare for a possible cliff effect when debt payment moratoria expire, according to 8h Enhanced surveillance report for the Greek economy.

European Commission cleared the  EUR655m Gefyra (bridge) mortgage subsidy scheme. But is this program sufficient to avert the wave of…

EU officials, however, rebuff the idea refusing to relax state-aid rules, which preclude the set-up of bad-banks, unless in formal resolution processes where losses have been imposed on shareholders, bondholders.

Topics which were disused during the  round table last Friday included a possible approach to improve the usability of national Asset Management Companies (AMC), the state of play of the Commission’s proposal for a Directive on credit servicers and credit purchasers,  initiatives to improve data standardization and data infrastructure on secondary markets for NPLs, and a presentation of the Commission’s recent proposal on the securitization of non-performing exposures (NPEs). 

ECB chief economist Philip Lane said the coronavirus-hit euro zone economy probably would not return to its pre-pandemic levels until next year at the earliest.

Greece’s 2020 Stability Programme baseline scenario forecasts a 4.7% recession for this year, while the adverse scenario sees a deeper contraction (7.9%).