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The wave of nonperforming loans (NPLs) has cost Greek lenders more than 30 billion euros over the last few years, hampering the normalization of conditions that would allow for the provision of desperately needed liquidity to the economy, bank officials claim reports Kathimerini. The other major block has been the steep drop in deposits, which shrank from 237 billion euros at the end of 2009 to 162 billion last June. A large part was transferred to banks abroad by people fearing a Greek exit from the eurozone but the lion’s share was used by businesses and households in Greece as an effort to cope with the sharp drop in incomes and revenues as well as to meet the particularly high tax liabilities.
Related News in English
Povezane vesti na srpskom
Συναφείς Ειδήσεις στα Ελληνικά