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Restoring growth and financial stability: how Greek banks contributed

Discussion Papers
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Download PDF: Discussion Paper 10


Author: Srichander Ramaswamy

The European Stability Mechanism (ESM) is evaluating the Greek financial assistance programmes to learn lessons that could enhance its ability to address possible future crises. This discussion paper provides input for this exercise by focusing on banking sector reforms within European Financial Stability Facility (EFSF) and ESM programmes. It examines how the banking sector performed, problems in implementing some reforms, and how banks contributed to Greek economic growth, performance, and the financial system’s resilience to counter potential future shocks.


Disclaimer: This Discussion Paper was drawn up by the author(s) as part of the evaluation of financial assistance to Greece. To fully protect the independent nature of the evaluation and in line with its Terms of Reference, this Discussion Paper has not been subject to scrutiny or review by ESM management. The views expressed in this paper do not necessarily reflect the views of the ESM or its management.

Source: European Stability Mechanism | Discussion Paper Series | Volume 2020 (Programme evaluation II special) no. 10 | June 2020 | 47 Pages


Copyright © European Stability Mechanism, 2020 | All rights reserved. Any reproduction, publication and reprint in the form of a different publication, whether printed or produced electronically, in whole or in part, is permitted only with the explicit written authorisation of the European Stability Mechanism.