The Bank of Greece will activate a plan to resolve the 60 pct of nonperforming loans (NPLs) not covered by the “Hercules” plan proposed by the government, bank governor Yannis Stournaras revealed while speaking at the Thessaloniki Summit 2019 on Friday evening, according to ANA.
Stournaras called project Hercules “a positive step in the right direction, but a small step,” that would need additional measures. “Hercules covers nearly 40 pct of NPLs, leaving 60 pct which must be dealt with in other ways,” the central bank governor said.
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