Banks ready to implement law on ‘bad loans’, says Piraeus Bank chief

Banks are ready even at a technical level to start implementing the law of non-performing loans, right after it is voted in Parliament, the President of Piraeus Bank Michalis Sallas told reporters after a meeting with Prime Minister Antonis Samaras and other bankers and government officials at Maximos Mansion on Tuesday.

Sallas said he agrees with the law adding that the next steps after the completion of the stress tests for the Greek banks were discussed at the meeting. “It (the stress tests) was a very positive development and opens the way to the financing of the economy,” he said.

The head of Piraeus Bank also said they discussed economic growth and with the Greek economy expected to grow 2-3 percent in the next year, banks will be able to support this plan.

Sallas said he’s against auctioning the main residence of debtors, saying banks don’t want to be burdened with portfolios of 70,000 or 100,000 euros. “Banks are not considering auctions, there’s no reason, it must not be done and I don’t see it happening.”

Government Vice-President Evangelos Venizelos, Finance Minister Gikas Hardouvelis, Alternate Finance Minsiter Christos Staikouras, Development Minister Kostas Skrekas and bank representatives Dimitris Matzounis from Alpha Bank, Alexandros Tourkolias from National Bank and Christos Megalou from Eurobank also participated in the meeting.