He made particular reference to the need for the rapid processing of online property auctions, avoiding any further delays and the broad use of the extrajudicial debt settlement mechanism.
Coeure added that the planning of European authorities provides for stress tests across Europe, which will also examine the peculiarities of Greek banks in depth, both regarding the high level of NPLs and the assessment of collateral and liquidity conditions.
Despite the banks’ insistence that the NPL reduction targets for 2017 will be met, it is clear that the creditors do not view the progress made as satisfactory, leading to the call for a greater effort with the use of all tools available.
Nevertheless, cooperation between the ECB and the IMF has intensified, allowing them to find some common ground, upon an initiative by the governor of the Bank of Greece, Yannis Stournaras, too.
The IMF has been arguing in favor of a greater capital injection for Greek lenders for years, and the amount of 10 billion euros is often mentioned.
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