Economics
The Greek Master Plan for Growth Revolves Around Banks
- Tsipras says bailout review conclusion key step to debt relief
- Hellenic Development Bank and other tools to support SMEs
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The Greek government’s master plan to restore growth, after it emerges from eight years under harsh bailout conditions this August, revolves around a key factor that could jump start its economy: its banks.
Prime Minister Alexis Tsipras presented to his cabinet on Monday in Athens the 110-page plan, which sets as its main priority the reduction of non-performing loans, the elimination of capital restrictions and the improvement of bank governance. Such steps will increase “the ability of the sector to serve the growing needs of the real economy,” according to a copy of the document obtained by Bloomberg News before the Greek premier showed the plan.