Download Greek Banking: From the Pre—Euro Reforms to the Financial by F. Pasiouras PDF

By F. Pasiouras

From a interval of progress and significantly excessive degrees of profitability, Greek banks lately came upon themselves fighting an important reduce prominent within the neighborhood marketplace, and a rise in non-performing loans. How is the Greek banking approach in a position to live on the drawback? this is often mentioned by way of taking a look at the final 15 years of the Greek banking procedure.

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Greek Banking: From the Pre—Euro Reforms to the Financial Crisis and Beyond

From a interval of development and significantly excessive degrees of profitability, Greek banks lately discovered themselves fighting an incredible reduce sought after within the neighborhood marketplace, and a rise in non-performing loans. How is the Greek banking method in a position to live to tell the tale the drawback? this can be mentioned through taking a look at the final 15 years of the Greek banking process.

Extra resources for Greek Banking: From the Pre—Euro Reforms to the Financial Crisis and Beyond

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3). Operating with an optimum branch network is crucial for Greek banks. On the one hand, branches offer the comparative advantage of proximity to customers, especially private individuals and small and medium-sized enterprises (SMEs). On the other hand, the maintenance of an extensive network is associated with higher operating costs. 5 The number of employees in Greece increased from 56,722 in 1997 to 65,673 in 2009, a percentage change of 16 per cent. With an average number of 1,000 employees per credit institution over the period 1997–2009, Greece stands second only to the UK (average: 1,137) within the EU-15.

The problem with the proposed strategy is that while the government has direct control over salaries and pensions, making it a relatively easy job, a true reform of revenue-related mechanisms requires considerable efforts. This probably explains why 26 Greek Banking progress, in terms of long-term reforms, can be described at best as minimal, despite various announcements and the adoption of new laws concerning social security, healthcare, the opening of closed-shop professions, etc. It should be mentioned here that while the global crisis has definitely influenced Greece’s fiscal performance and prospects, the problems were pre-existing and they were never appropriately addressed.

Lensink et al. (2008) conclude that well-developed institutions are important for the efficient operations of foreign banks. Further, they find that while ownership negatively affects bank efficiency, this negative effect is less pronounced in countries with good governance. They also find that higher quality of the institutions in the home country and higher similarity between home and host country institutional quality reduce foreign bank inefficiency. 14 The first indicator, voice and accountability, reveals the extent to which a country’s citizens are able to participate in selecting their government, as well as freedom of expression, freedom of association and free media.

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