This is the x-ray of private debt

Seventy billion red loans continue to be a serious obstacle to the country’s financial system.

Despite the fact that banks have been practically freed from this problem, the problem itself remains strong in the country’s financial system and happens to be a point of strong attention for supervisors and institutions.

The morphology of private debt has changed. As circles involved in the matter point out, vulnerable borrowers have been and remain few and exempt from foreclosures, while a number of middle-market borrowers face foreclosures without being strategic defaulters.

The latter have been cleared through the fast-track courts of the Katseli law.

On the other hand, the judiciary is not running at the pace it might need to clear the debt.

Finally, the progress of auctions is extremely modest, affecting recoveries.

The SSM is however drawing attention to Greek banks not to create new red loans. The goal is to bring their share below 3% in 2025.

The post This is the x-ray of private debt appeared first on ProtoThema English.