Bank of Greece Likely to Unveil Bad-Bank Plan By End-September

The Bank of Greece will likely submit a plan to the government by the end of the month to help the country’s lenders clear most non-performing loans from their balance sheets.

“Probably before the end of the month, the Bank of Greece is going to unveil its own proposal for the creation of a bad bank” Alex Patelis, chief economic adviser to Prime Minister Kyriakos Mitsotakis, said at a virtual event organized by the Athens Stock Exchange. “We ‘re obviously going to study it very carefully, and take it from there.”

Greece’s huge stock of non-performing ...