Banking
A bank is a financial institution that accepts deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital markets.
Becau ...
in
Greece
Greece,, or , romanized: ', officially the Hellenic Republic, is a country in Southeast Europe. It is situated on the southern tip of the Balkans, and is located at the crossroads of Europe, Asia, and Africa. Greece shares land borders ...
made up the relative majority of assets and liabilities of Greece as of 2008.
On 29 June 2015 banks were shut down and capital controls were imposed. As of October 2018, the capital controls were brought to an end.
Greek banks are ''de facto'' owned by
Eurozone
The euro area, commonly called eurozone (EZ), is a currency union of 19 member states of the European Union (EU) that have adopted the euro ( €) as their primary currency and sole legal tender, and have thus fully implemented EMU polici ...
countries through the
Hellenic Financial Stability Fund The Hellenic Financial Stability Fund ( el, Ταμείο Χρηματοπιστωτικής Σταθερότητας), or HFSF is a Greece, Greek special purpose vehicle created to help stabilizing the List of banks in Greece, Greek banking sector i ...
, effectively a subsidiary of the
EFSF
The European Financial Stability Facility (EFSF) is a special purpose vehicle financed by members of the eurozone to address the European sovereign-debt crisis. It was agreed by the Council of the European Union on 9 May 2010, with the objecti ...
/
ESM administered by the
Eurogroup
The Eurogroup is the recognised collective term for the informal meetings of the finance ministers of the eurozone—those member states of the European Union (EU) which have adopted the euro as their official currency. The group has 19 membe ...
outside official
European Union
The European Union (EU) is a supranational political and economic union of member states that are located primarily in Europe. The union has a total area of and an estimated total population of about 447million. The EU has often been de ...
institutions.
See also
*
List of banks in Greece
This is a list of all the banks incorporated in Greece and some defunct banks.
Extant banks
Central bank
*Bank of Greece
Systemic Greek banks
Greek banks with a significant presence domestically and overseas with large assets under mana ...
*
Economy of Greece
The economy of Greece is the 53rd largest in the world, with a nominal gross domestic product (GDP) of $222.008 billion per annum. In terms of purchasing power parity, Greece is the world's 54th largest economy, at $387.801 billion per annum. ...
References
External links
List of largest Greek banks
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