ECONOMY

ECB’s Nouy confident Greek banks will recover

ECB’s Nouy confident Greek banks will recover

Greek banks will recover from the current crisis because they entered the turbulence relatively strong thanks to earlier reform efforts, Daniele Nouy, the European Central Bank's banking supervision chair, said on Thursday.

"Political events have of course weakened the banks, but the crisis did not start from the banks," Nouy told Finnish broadcaster YLE. "I'm optimistic that the banks will recover because they have done so before."

Greece's banks, which include National Bank of Greece , Eurobank, Alpha Bank and Piraeus Bank, were allocated 25 billion euros ($28 billion) in the country's rescue package but must wait for the cash until authorities complete a test of their health in October.

[Reuters]

Banking

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.

READ MORE
Kuwait’s Al Ahli gets Egypt regulatory nod to buy Piraeus unit
ECONOMY

Kuwait’s Al Ahli gets Egypt regulatory nod to buy Piraeus unit

Serbian central bank won’t loosen Greek bank controls yet, governor says
ECONOMY

Serbian central bank won’t loosen Greek bank controls yet, governor says

Deposits trickling, not flooding back into Greek banks – sources
ECONOMY

Deposits trickling, not flooding back into Greek banks – sources

Greek bank rescue won’t rely on taxpayer funds, Dombrovskis says
ECONOMY

Greek bank rescue won’t rely on taxpayer funds, Dombrovskis says

ECB reduces maximum Greek bank aid as bailout eases cash tension
ECONOMY

ECB reduces maximum Greek bank aid as bailout eases cash tension

EU’s Greek bank review to determine size of third package
ECONOMY

EU’s Greek bank review to determine size of third package