The head of the Hellenic Financial Stability Fund (HFSF) this week was quoted as saying that roughly 15 percent of borrowers who hold non-performing loans in Greece can actually cover their payments, but choose not to by employing favorable measures.
HFSF managing director Aris Xenofos, in an address to the London School of Economics, said Greek banks can reverse the negative course of results over the past five years, following the recent successful completion of a third round of recapitalization – in tandem with political stability in the country and an improvement in macroeconomic conditions.
HFSF is a Greece-based special purpose vehicle created to help stabilize the Greek banking sector amid the Greek government debt and economic crisis.
