The analysis findings of the Institute of Trade and Services (INEMY) on the topic “The operation of the domestic banking system and the strengthening of the market”, commented the president of ESEEStavros Kafounis, stating “Nobody now doubts that the chronic “arrhythmias” in the draining of liquidity from the banks towards the real economy, when they do not call into question the viability of businesses, they certainly delay their development path”.
At the same time, the president of ESEE, according to a report by ertnews, commented: “The ongoing extremely critical public debate on improving the operation of the Greek banking system and strengthening the liquidity of the market is at its peak inside and outside the Greek Parliament. No one now doubts that the chronic “arrhythmias” in the channeling of liquidity from the banks to the real economy, when they do not call into question the viability of businesses, certainly delay their development course. The time has come for the strength of Greek banks to be reflected in a new relationship of trust with the whole of entrepreneurship”.
“The ESEE Institute’s special topical analysis contributes substantially to this debate, as it focuses on the contentious issues of bank charges and fees. In addition, it documents the large distance between deposit rates and lending rates observed in our country. Above all, however, through and from the comparison with the data of the rest of the European countries, the analysis confirms the urgent need to finally listen to the fair request of the businesses: that the Greek banks fulfill their essential role, which is the granting of loans in the real economy . Therefore, the market expects that the upcoming decisions on the part of the state and the banks themselves will really mark a ‘new beginning’ in the relationship of the domestic banking system with businesses”.
As noted in the conclusions of the analysis, despite the fact that banks’ reluctance to grant loans is based on the relatively recent past, when the Greek government bonds they held were “cut” and three recapitalizations were needed to be able to remain in operation , it is now more than urgent to strengthen liquidity in the market. At the same time, the increasing trend of charges – despite the fact that they are lower than the Eurozone average – create pressures on the operation of businesses.