| Abstract : | The COVID-19 pandemic caught Greece at the worst possible time. After a lost decade of economic and financial stagnation, including a non-enviable NPL burden over 30% (Bank of Greece) and a private debt burden of over €230 billion (CNN, 2020), Greece enters the COVID-19 era – with all its idiosyncrasies and challenges – vulnerable and with limited room to manoeuvre. Governments across Europe – including Greece – are forced to shut down economic activity in order to preserve human life but at a severe economic cost, which for Greece means that its GDP is expected to shrink by about 10% in 2020, as Greek banks estimate (Capital.gr, 2020). Meanwhile, the Non-Performing Loan (NPL) issue, which has bedeviled the Greek banking systems post-GFC ties capital and renders it unable to lend money to the real economy, is also expected to exarcerbate due to COVID-19; Greek banks estimate an increase of NPLs by €10-15 billion, the author of this thesis estimates approximately €13 billion in new NPLs on the Greek banking system. Amidst the worst healthcare crisis in over 100 years the Greek banking system attempts to combat its existing and future NPL problem, with support from both the Hellenic Government and the European Union, as well as the Bank of Greece and European Central Bank. Reforms that take place, notably the new Insolvency Law, in conjuncture with countermeasures initiated by the Bank of Greece, are expected by the author to stabilize the NPL conundrum and put the Greek banking system on better footing, allowing for a reset and restart and freer capital – albeit with not insignificant social consequences.
Η πανδημία της COVID-19 έπληξε την Ελλάδα - και το ελληνικό τραπεζικό σύστημα - την χειρότερη δυνατή στιγμή. Η παρούσα διατριβή συνιστά προσπάθεια εκτίμησης των επιπτώσεων της πανδημίας στο ζήτημα μη εξυπηρετούμενων δανείων του τραπεζικού συστήματος της χώρας μας.
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