European Central Bank

NBG makes 2018 NPE target from June

The second-quarter financial results published by the National Bank of Greece (NBG) on Friday reflected the gradual strengthening of operating profits and of liquidity, and the achievement of the target for the reduction of nonperforming exposures for the entire 2018 already from the first half of the year.

Fourteen companies approved in debt management sector

Fourteen companies are now licensed by the Bank of Greece to operate in the domestic debt management sector, after the approval on Tuesday of applications from LPN Capital and Melfin. The intense interest seen over the past two years stems from the acceleration of sales to specialized companies of large portfolios of bad loans.

Fourteen companies approved by central bank in debt management sector

Fourteen companies are now licensed by the Bank of Greece to operate in the domestic debt management sector, after the approval on Tuesday of applications from LPN Capital and Melfin.

The intense interest in the sector over the past two years stems from the acceleration of sales of large portfolios of bad loans to specialized companies.

Trade Cease-fire with Trump Boosts German Business Optimism

FRANKFURT, Germany (AP) — The trade cease-fire between the European Union and U.S. President Donald Trump boosted optimism among German business executives heavily dependent on trade for their profits, a closely watched economic index showed Monday.

The Ifo institute index rose to 103.8 points from 101.7 in July. The result was better than the 101.8 expected by market analysts.

Former ECB economist 'skeptical' about Greece's prospects

Greece should have been given a debt haircut in 2010, not two years later, the former chief economist of the European Central Bank has said.

In an interview with German public radio Deutschlandfunk, Jürgen Stark, who resigned from the bank in early 2012, also criticized the ECB's approach in general to the euro crisis.

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