the insider’s guide

10% GDP contraction puts NPL secondary market to a bumpy road

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.

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

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.

Creditors demand home auctions now; Greece to extend protection law

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.

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

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.

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

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

Cost rises for state guarantees in Hercules bad loan plan

The crisis in the economy is expected to bring significant changes to the structure and operation of the Hercules plan, with the most characteristic being the increase in the cost of guarantees compared to what had been originally set.

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

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.

Tax details for restructuring of loans slow in coming

Tax Authorities pose barriers to the process of identifying lenders that are entitled to loan restructure. Consequently,valuable time is wasted and the process of adjusting loans becomes extremely slow. Necessary data will become available to loan servicers after Easter.

Will  Ferit Sahenk make it through the summer?

Ferit Sahenk has been experiencing  a lot of problems , as a result of the weak Turkish economy. On top of that the standstill of Greek tourism due to pandemic, is creating uncertainty on whether Dogus will hold on to Astir Palace partnership this summer.

Is Aristotle ready to strike again? 

 Aristotle Mystakides, the Greek-British billionnaire, is ready to close a deal buying a new property and become a key player in the Greek real estate market.

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