Skip to content
Subscriber Only

Why Greek Banks' New Loans Are Not Enough for Cratered Economy

  • Large lenders in Greece to plough in 11 billion euros in 2018
  • Economy needs to secure foreign direct investment boost
Video player cover image
Greece is about to exit its bailout

Yiannis, a 51-year-old owner of an online Greek food-delivery company in Athens, is struggling to keep his business going because he can’t find enough funding.

His request for a 50,000-euro ($57,100) bank loan for working capital was met with what he sees as an unreasonable collateral demand, forcing him to abandon plans to expand his platform for delivering everything from souvlaki and gyros to pizzas. He now employs only three people, down from 23 in 2008.