Moody’s credit rating business has assessed that the plan submitted by the Bank of Greece for tackling the problem of red loans is credit positive. The Bank of Greece is still waiting for the verdict of the Single Supervisory Mechanism (SSM). The Director of the Financial Stability Department, Spyros Pantelias, went to Frankfurt to speak about the plan, according to which non-performing loans will drop below 10% in the next three years.

In the third progress report on the reduction of non-performing exposures (NPEs), the Commission stressed on Friday that the NPEs in the European bank sector have further dropped to 3.4% on average in the EU. It is reminded that last March, the Commission proposed a set of actions to tackle non-performing loans, so that there is progress in the conclusion of the Banking Union.