Response to the statement of the Head of Finance of K.O. of SYRIZA Ms. Efi Ahtsioglou gives the Ministry of Finance characteristically stating that “the practices of the banking system under state control, which was evangelized and promoted by SYRIZA, have obviously gone irreversibly.”
The announcement of the Ministry of Finance states in detail:
It takes a lot of audacity from SYRIZA to make announcements about the Greek banking system.
Citizens’ memories are still fresh from the imposition of a bank holiday and capital restrictions, the increase of “red” loans, the shrinking of deposits, the granting of loans – with opaque procedures – by a non-systemic bank, all under SYRIZA government.
Let us refresh the memory of its executives a little, and compare how SYRIZA handed over the banking system and how it is today:
1st Deposits fell from 160.3 billion euros in December 2014 to 136.9 billion euros in June 2019.
Deposits today stand at 178.2 billion euros, the highest level since the crisis began in 2010.
2nd “Red” loans, from December 2014 to March 2016, increased by 10 billion euros, reaching a record high of 107 billion euros.
The current government received them at 75.3 billion euros, or 43.6% of total loans, the percentage that was at the end of 2014.
Today, “red” loans amount to 18.4 billion euros, or 12.8% of total loans, at the lowest level since the beginning of the crisis in 2010.
With 2 systemic banks already below 10%, something that even Ms. Ahtsioglou recognizes as a success.
3rd When the whole of Europe – during the SYRIZA period – was moving forward, taking advantage of the favorable economic environment, the Greek banks suffered from an unnecessary new crisis, which led to an unnecessary 3rd recapitalization, which added costs to the State, devalued previous share capital increases. changed the ownership structure of credit institutions and amended – to a lesser extent – their restructuring plans.
It is characteristic that the value of the shares held by the Greek State collapsed, from 11.6 billion euros at the end of 2014, to 1.6 billion euros in June 2019.
Regarding the Draft Law, it is interesting that the provisions for the Financial Stability Fund have been in consultation since April 29, and SYRIZA decided to read it and deal with it after the Government, on its own initiative, made the provisions even stricter. !
But even now, it deliberately conceals that the variable remuneration that under strict conditions can be granted to banks that meet the criteria from 2023 onwards, can not be provided in cash but only in shares or other equivalent securities, linking their value to the value of the bank.
Instead of SYRIZA looking for “scandalous regulations” and “eating and drinking” in the current Government, let us refer to the case of Bank of Attica, during its days of governance, the way of granting loans and their recipients.
And then Ms. Ahtsioglou, if she reads the relevant Report of the European Central Bank for this bank, will have insomnia…
Now the banks have the opportunity to return to European normalcy, as we did not allow SYRIZA practices to be applied to the systemic banks, with loans for pastures!
“The practices of the” parallel banking system under state control “, which was preached and promoted by SYRIZA, have obviously passed irrevocably”.
Source: Capital
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