ECONOMY

Hunt on for Greek borrowers who say they can’t repay but can

Greek bank officials estimate that about 30 percent of morgage borrowers who do not repay their loans are in fact in a position to do so, and may number up to 10,000.

After the recent wave of acquisitions and mergers, banks have discovered many instances in which borrowers would not repay loans although they maintained large balances in other banks.

The Hellenic Bank Association has set up a working group to study ways in which one bank may draw information on accounts a client may keep in other banks.