ECB VP: Massive NPLs remain recovering Greek economy's 'Achilles heel'

Monday, 03 February 2020 12:23
EPA/Javier Lizon
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The "Achilles heel" of the recovering and more stable Greek economy is none other than NPLs burdening systemic banks' balance sheets, European Central Bank vice-president Luis de Guindos underlined, during an address at the Athens-based Foundation for Economic and Industrial Research (IOBE).

The ECB vice-president added that Greek authorities must utilize all the "tools" at their disposal to reduce NPLs.

At the same time, de Guindos praised the current fiscal policy by the country, saying it was on very solid ground, while pointing to indications of stabilization at the global level, although uncertainties remain, such as the coronavirus outbreak.

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