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ENGLISH EDITION

ENGLISH EDITION

Unprecedented moves shield banks from pandemic

The European Central Bank has fully shielded the banking system in terms of liquidity, bad loans, and capital adequacy, while the European Commission has suspended several regulations to prevent any additional state aid measures from having an impact on shareholders, bondholders, and depositors. Greek bank shares, despite yesterday's gains of 17.84 percent, may have plummeted 60 percent since the beginning of the year, but the current crisis for Greek lenders is very different from what we have experienced in recent years.
ENGLISH EDITION

Digital dangers lurk as remote working increases

Greece's Digital Governance Ministry and the General Secretariat of Telecommunications and Post stated in relevant guidelines that 'there has recently been an increase in activity in emails with alleged material about Covid-19 coronaviruses that contain malware. Users are urged to pay close attention to any message that refers to Covid-19 in its title or content."Sources say that in recent days violations have been reported by companies where hackers attempted to pry open holes in systems, exploiting security gaps created by remote work.
ENGLISH EDITION

Hercules bad loan plan gets nod from SSM in major boost for banks

Bank of Greece governor, Yannis Stournaras, met with the heads of the country's lenders on Monday and briefed them on the positive outcome of talks on the issue. This is seen a being a major development for the sector as it opens the path for the sale of large-sized securitizations of bad loans within the framework of the Hercules plan that will offer state guarantees on senior tranches, once conditions in the market return to normal.
ENGLISH EDITION

Economic lockdown and the one way path to state aid

The economic collapse that has been taking place in recent weeks has been unprecedented: thousands of overnight cancellations in AirBnB apartments, occupancy rates at Athens hotels at less than 20 percent, unprecedented cancellations in summer destinations, empty shopping malls, brakes drawn on trucks transporting industrial products and raw materials, large companies with a strategic role in the economy, such as Ae