Greek Finance Minister Says He Wants More Solutions on Bad Loans
- Staikouras foresees NPL plan to combine with ‘Hercules’ option
- Decision on use of bond-sale profits expected in coming months
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Greece wants to shore up its banking sector by helping lenders shed more bad loans and it’s working on a new solution to combine with the European Commission-approved Hercules program, the country’s finance minister said.
“We are open and already seeking other realistic, innovative and efficient systematic solutions” in addition to the Hercules choice for reducing non-performing loans, Finance Minister Christos Staikouras said in an interview. “Greece will eventually approach single-digit NPL ratios.”