Goverment’s new projections on recession (-4% of GDP)

“The latest data on the progress of the Extrajudicial Debt Settlement Mechanism prove that it is now functioning satisfactorily”, said…

A prolonged recession in Greece will surge defaults and bad loans. A negative impact is also expected on the secondary NPL market. European Commission and the IMF forecast a 10% contraction this year.
Greek banks still carry most of NPLs in their balance sheet.

Only 3,198 applications had been submitted from  90,000 potential beneficiaries of the existing protection law. For the same period, ie from July 2019 to March 2020, about 210,000 loans were restructured in negotiations between loan holders and banks and loan managers.