'Hercules' plan to reduce NPLs held by Greek banks discussed by Lagarde, Mitsotakis in Frankfurt

Tuesday, 17 December 2019 21:30
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Athens appeared satisfied, according to government sources, with Tuesday meeting between Greek Prime Minister Kyriakos Mitsotakis and new ECB President Christine Lagarde in Frankfurt, herself an "old hand" in successive Greek crisis and bailouts over the past decade.

The same sources said a tête-à-tête between Lagarde and Mitsotakis was followed by an expanded meeting, with associates, and also conducted in a particularly positive climate on the current situatioin and the Greek economy's prospects.

Based on the Greek side's "spin", satisfaction was expressed with the degree of implementation of reforms by the Mitsotakis government and a recent positive evaluation by European creditors.

Additionally, talks touched on the "Hercules" plan for reducing NPLs held by Greece's four systemic banks.

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