Government Greek

Draft legislation overhauling the framework of the right to strike action signals the start of a battle royal over the future of trade unionism and labour relations in Greece.

That will take constant vigilance, discipline, and concentration to the very end so as to flatten and reduce the epidemic’s curve of spread.

Our banks, shackled by non-performing loans (NPLs), meager available capital, extremely low revenues, and an anaemic economy, could not but be the object of pressures from the impatient markets.

'The government in Athens is exploring an aid plan for domestic banks. Together with the euro rescue ESM and the Greek Banking Association, it is working on an 'intervention plan' to relieve banks of risk-burdened loans,' FAZ reported.

The markets are aware of the weaknesses of the Greek banking system, and the potential problem of capital adequacy that can be encountered, as the target of a swift reduction of NPLs cannot be achieved without losses.

'The Greek budget this year is slightly better than expected. The Greek government can use that budget. If they change their policies, they must first discuss them with European institutions. They [Greece] have not yet been 100 percent unloosened,'