Evgenia Tzortzi

By Prokopis Hatzinikolaou & Evgenia Tzortzi

The Finance Ministry has already used 1.9 billion euros from the cash reserves of general government entities at the Bank of Greece or in state securities to ease the government?s liquidity problems and pay salaries, pensions and the state?s obligations to the country?s creditors.

By Dimitra Manifava and Evgenia Tzortzi

A crucial package of interventions on the burning issue of nonperforming loans to enterprises and households is expected to be presented in the first half of September as details are hammered out over the summer.

By Evgenia Tzortzi

Bank loans approved in April via the funding instruments introduced by the Development Ministry amounted to 1.6 billion euros, posting a 10 percent increase from the previous month. Despite this positive development, credit expansion remained in negative territory last month at a rate of -3.7 percent, slowing from -4.1 percent in March.

By Evgenia Tzortzi

The program for the 2014-20 European Union subsidy funding period will entail the investment of 26 billion euros. On top of the 20.8 billion set to come from Brussels, another 5.2 billion from Greece will be added. This includes an extra 2 billion euros that the Greek side will attempt to obtain in 2016 by utilizing the revision clause.

By Evgenia Tzortzi

Nonperforming loans to enterprises and households in Greece peaked in the first quarter of the year, exceeding 71 billion euros. This amounted to a third of the banks’ loan portfolios, which at the end of March added up to 215.9 billion euros, according to bank data.

 PwC recommends debt write-off and shutdown of 650 ‘zombies’

By Evgenia Tzortzi

Restructuring the Greek business sector will require some 25 billion euros for the viable enterprises to stand out from the unsustainables, PricewaterhouseCoopers (PwC) estimates in a report presented on Monday in Athens.

By Evgenia Tzortzi

The new regional authorities to emerge from yesterday’s and next Sunday’s polls will have the power to administrate funds amounting to 7 billion euros from the new funding period of the European Commission-supported subsidy program.

By Evgenia Tzortzi

The local insurance market is bracing for a challenging summer as the Bank of Greece has decided to force all of the sector’s companies to take part in stress tests to be conducted by the European Insurance and Occupational Pensions Authority (EIOPA) this fall.

By Evgenia Tzortzi

Some 700,000 uninsured vehicles are on Greece’s roads according to the latest data compiled after the records of the ministries of Finance and Transport and the Hellenic Association of Insurance Companies were cross-checked.

By Evgenia Tzortzi

The successful share capital increase of Eurobank and the forthcoming one of National are changing the lenders’ plans for the sale of EFG Eurolife and Ethniki Insurance respectively.