BoG Gov.: 'Hercules' plan to reduce banks' NPL burdens in right direction, but not enough

Bank of Greece (BoG) Gov. Yannis Stournaras this week reiterated that the highly touted "Heracles" plan, which aims to reduce the massive value of "bad debt" held by Greece's systemic banks and is based on an asset protection scheme (APS), is a significant step towards dealing with NPLs, while it still only covers 40 percent of the latter.
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