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Athens News Agency: News in English, 08-05-18

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From: The Athens News Agency at <>


  • [01] Households not facing debt crisis

  • [01] Households not facing debt crisis

    The general secretary of Hellenic Bank Association, Christos Gortsos, reiterated on Sunday that most Greek households are not facing increased rates of debt or encountering difficulties in paying off loans.

    Gortsos, speaking within the framework of a two-day event on the issue of national banking systems, also referred to recent press reports claiming up to 100,000 auctions of foreclosed properties in 2007.

    "If these numbers were true, then the whole situation would have been beyond control," he said.

    He added that according to reliable estimates, auctions in 2007 (for enterprises and private individuals) did not exceed 5,000. He also pledged to release details within the next few days.

    Gortsos underlined that the majority of borrowers are paying-off their loans on time, while the number of outstanding loans is falling. Additionally, he stressed that retail borrowing as a percentage of the country's GDP is the second lowest in the EU.

    Referring to the international economic crisis, he said it hasn't directly affected Greek banks.

    Caption: ANA-MPA file photo of people waiting outside a bank in Athens

    Athens News Agency: News in English Directory - Previous Article - Next Article
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