Bank of Greece

Stournaras expects 5.5 bln from EU funds this year

Advance payments from a European Union recovery fund will finance investments worth 3.3% of the country's gross domestic product (around 5.5 billion euros) this year, Bank of Greece Governor Yannis Stournaras said on Wednesday while also calling on Greek banks to make additional provisions to cover an expected new wave of nonperforming loans.

Stournaras aims to shore up embattled banking system with 10bn euros in liquidity

As the end of the lockdown is already in sight in Greece the day after the coronavirus outbreak is already stirring extreme concern in the government, among financial players and analysts, and not least in the Bank of Greece with the governor of the central bank, Yannis Stournaras, scampering to come up with 10bn euros to bolster the Greek banking system and avert yet another bank crisis.

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