Thursday, November 5, 2015

Greek Banks' Non-Performing Loans Hit 43%; Only €14 Billion Recapitalization Needed?

"Only €14 Billion Recapitalization Needed?
On November 1, I noted Greek Banks Need €14 Billion Recapitalization Following Latest Stress-Free Tests.

My comment was "Greek banks did much better than expected in the latest ECB stress test (undoubtedly stress-free). The ECB's adverse scenario shows Greek banks only underfunded to the tune of €14 billion."

Greek Banks' Non-Performing Loans Hit 43%

Reader Lars from Norway just emailed regarding recent interview in Germany with former Greek finance minister Yanis Varoufakis that strongly suggests that €14 billion recapitalization number is pure fantasy..."

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