Bloomberg: 'Stress test' results for Greek banks in early May

Tuesday, 17 April 2018 16:27

Results of “stress tests” on Greece’s four systemic banks will be announced on May 4 and 5 by the European Central Bank (ECB), Bloomberg on Tuesday quotes an ECB source as saying.

The date would come some three months before the third – and last – Greek bailout ends in August, as stress tests for Greek banks had been moved up to February 2018, ahead of similar such audits in other EZ countries.

Bloomberg notes that Athens has already amassed 20 billion euros – received as loans from the current program – to reinforce its systemic banks before August. If deemed unnecessary, then the money can be funneled elsewhere, such as possible debt relief measures.

Finally, the same report emphasized that creditors are increasingly confident that the four banks will pass the “stress tests”.

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