During the peak of the financial crisis, Greek banks were weighed down by over 100 billion euros of non-performing loans. Since then, a new set of tools has emerged to help manage this bad debt, and a large amount has been transferred from the banks to other entities. While this has improved the overall outlook for Greece’s banks, the problem of bad debt remains.
In her latest report for MacroPolis, expert Georgia Nakou discusses the latest developments with regard to dealing with these NPLs, and warns that the management of bad residential loans – which also has a political and social dimension – is about to re-emerge as a contentious issue now that measures put into place during the pandemic are set to expire.
Georgia Nakou, who joins us today, is a political and financial analyst for MacroPolis, which is an independent analysis service providing daily insight and analysis of the key political, economic and social developments in Greece.