The head of the European Central Bank's (ECB) supervisory board SSM chief Danièle Nouy on Thursday "stayed on message" in reiterating that Greece's four systemic banks remain "somewhat weak", with more time and decisiveness needed for their complete recovery.
Speaking at the annual Delphi economic forum, Nouy again touched on the "mountain" of debt burdening Greek banks, in the form of nearly 100 billion euros, in value, of non-performing loans (NPLs).
Echoing European creditors' standing demands over the past two years, she said progress has been made, although efforts to reduce NPLs must accelerate in order to meet higher targets over the coming years.
At the same time, Nouy, speaking on a panel discussion with the heads of all four Greek systemic banks, emphasized that dealing with "bad debt" cannot be achieved only through efforts by the banking system, as necessary legal and judicial initiatives are required by the Greek state.
She also called on the Greek side to fully implement new laws for out-of-court settlements and obligatory collection of debts.
