The Greek banking system has returned to normality after bringing its dependence on the Emergency Liquidity Assistance (ELA) mechanism down to zero, banking sources said on Wednesday.
Greek Banking System
The Greek banking system has improved significantly in the last few years although some special issues still remain, Elke Konig, chair of the Single Resolution Board said in an interview.
There has been a significant improvement in the situation of Greek banks, both in terms of capital adequacy and governance, the European Central Bank (ECB)
A financial crisis was leading to the end of the 40-year traditional banking system, with US banks becoming global players, Panagiotis Thomopoulos, chairman of National Bank's board said during a meeting at the Delphi Economic Forum.
Greek banks lowered their borrowing from the Eurosystem to 63 billion euros in January, from 66.7 billion at the end of 2016.
Electronic transactions in Greece have skyrocketed since the imposition of capital controls in late June 2015, with contact-less transactions recording the most impressive increase. Over the 2014 to 2016 period, transactions via POS…