The Traderszone Network

Published in TZ Latest News 6 September, 2015 by The TZ Newswire Staff

Bad loans haunt Greek banks seeking new start

Turned down for a 10,000 euro ($11,100) loan, George Sarris is one of hundreds of thousands of small business owners shunned by Greek banks. “The economy’s return to growth and its funding from the banking system will be affected by a number of factors, including political stability, the implementation of bailout reforms, a successful conclusion of the first review in October and the completion of banks’ recapitalization with private investor participation,” Fokion Karavias, Chief Executive of Eurobank (EURBr.AT), one of Greece’s top four banks, said.