Bank managers concerned over ECB's attitude on stress tests

The heads of Greece's banks returned to Athens from Frankfurt last week concerned about the European Central Bank's intentions regarding the upcoming stress tests.

At a meeting with the chief of the ECB's Single Supervisory Mechanism (SSM), Daniele Nouy, in Frankfurt last week, the European official gave domestic banks little scope to exercise their common positions - mainly concerning certain technical aspects and the stress tests' timetables - saying: "You do what you have to do, and leave the rest up to us."

Senior bank sources tell Kathimerini that although there is some apparent impatience among Europe's political leaderships for the successful completion of the Greek bailout program, this cannot be achieved without Greek banks being given a clean bill of health. And given the major problem of nonperforming loans as well as the general situation in the country,...