23 MARCH 2015
Red Loan Fund with the Participation of the Banks

The “evil bank” is to operate in the form of a fund or an asset management corporation, where also individuals may participate, i.e. the banks. According to the government’s plan, which is a suggestion of the Greek banks as well, this institution will be able to manage borrowers’ debts to more than one bank, something that cannot be efficiently dealt with today.

One option regarding the role of this institution, which resembles the correspondent ones in Spain and Ireland, is to operate within the framework of the European Financial Stability Facility. It aims to acquire access to the 11 billion euros ‘pillow’ that has been transferred to the EFSF, which is to constitute an element of the negotiation with the European partners.

Sources: Kathimerini, enikos.gr

Red Loan Fund with the Participation of the Banks

The “evil bank” is to operate in the form of a fund or an asset management corporation, where also individuals may participate, i.e. the banks. According to the government’s plan, which is a suggestion of the Greek banks as well, this institution will be able to manage borrowers’ debts to more than one bank, something that cannot be efficiently dealt with today.

One option regarding the role of this institution, which resembles the correspondent ones in Spain and Ireland, is to operate within the framework of the European Financial Stability Facility. It aims to acquire access to the 11 billion euros ‘pillow’ that has been transferred to the EFSF, which is to constitute an element of the negotiation with the European partners.

Sources: Kathimerini, enikos.gr

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