Money

Gov’t seeks more tools for NPLs

The government is seeking out additional systemic solutions for the banks' bad-loan problem, beyond the state's Hercules plan, Finance Minister Christos Staikouras revealed to Bloomberg on Thursday. His comments came after Bank of Greece Governor Yannis Stournaras said that Hercules is a step in the right direction but is not enough.

One of the Rarest Coins in the World Is up for Auction

One of the rarest coins in the world - a gold dinar dating from 732 has been auctioned. According to The Daily Mail, auctioneers Morton & Eden have given it their highest ever the pre-sale estimate of between £1.4 and £1.6million Currently, there are about a dozen such coins in the world, most of which are either in private collections or in museums. "This coin is fabulous.

Central banker: Approval of Greek plan for NPLs 'important step,' but more needed

While the approval by the European Commission's competition authorities of a Greek plan to cut bad loans at the country's lenders by up to 30 billion euros is an "important step" in the right direction it will not be enough, and will have to be supplemented by the Greek central bank's proposal, Governor Yannis Stournaras said on Friday.

Commission approves plan for bad loans

The European Commission on Thursday approved the Greek state's "Hercules" plan to reduce local banks' bad loans by up to 30 billion euros, and Deputy Finance Minister Giorgos Zavvos called on the country's lenders to utilize the project, making the most of the favorable market climate that cuts the cost of state collateral.

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