Greece Wants Bad Loan Sales to Be More Measured, Minister Says
- Greek Economy Minister George Stathakis speaks in interview
- Talks with creditors can conclude within weeks, Stathakis says
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Greece, struggling with more than 100 billion euros ($112 billion) of soured loans, wants to cap distressed debt sales, the country’s economy minister said.
Resisting calls from creditors to further open the market, George Stathakis, 62, said the government wants to maintain restrictions on the sale of such loans to distressed debt funds. Under the latest accord signed with creditors, Europe’s most indebted state is required to develop “a dynamic market” for non-performing loans and “remove any unnecessary legal or other impediments” to their disposal from banks.