ENGLISH EDITION

As Hercules bad loan plan delays, Greece loses another year

Completion of the Hercules plan, a proposal being put together by the Greek government to help banks offload nonperforming loans, has been pushed back to 2020, in a development that is also delaying other initiatives by banks to improve their balance sheets. Due to uncertainty stemming from the Hercules proposal, Greek lenders are unable to complete steps they have already announced and prepared 12 months ago, such as the Eurobank - Pimco deal.