The four main challenges facing the Greek banking system, according to the chairman of the Hellenic Banks Association

Successful recapitalization, restoring of confidence, settling of non-performing loans and injecting liquidity in the real economy are the four main challenges facing the Greek banking system, the chairman of the Hellenic Banks Association, Louka Katseli, said during her speech as an official guest at a business event on Thursday.

Outlining the challenges, Katseli, who also heads the National Bank, said the first one is the successful recapitalization of the country’s banks without imposing a haircut on bank deposits – regardless of the amount – and noted that the process will be concluded by the end of the year.

The second one is restoring confidence to depositors which can only be accomplished by ensuring political stability and consolidating a climate of credibility and solvency of banks towards their clients.

The next challenge, she said, is settling non-performing loans in both the retail and corporate market and finally providing liquidity to the real economy through loans to innovative and export-oriented businesses as well as small and medium-sized businesses.

She also noted that a necessary and sufficient condition for exiting the crisis and returning the country to growth is to prepare a comprehensive investment program, which will be able to mobilize resources and contribute to the economic and technological transformation of the country.

The event was organized by the British Hellenic Chamber of Commerce and was attended by Britain’s Ambassador to Greece, John Kittmer, former Prime Ministers Panagiotis Pikramenos and Vassiliki Thanou, representatives of Chambers and senior executives from the business and investment sector.