Shaming strategic defaulters may help reduce NPLs, economist says

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Shaming strategic defaulters may help reduce...
 © BusinessMail 2017
By Stelios Orphanides

More transparency from banks and a more resolute stance of the state, which guarantees deposits of up to €100,000, may be more effective in tackling strategic default, an economist and former banker has said commenting on Hellenic Bank’s failed attempt on Thursday to auction a primary residence.

“Unless strategic defaulters are shamed, they will always have the upper hand,” said Marios Clerides in a telephone interview on Tuesday. “I doubt there is anyone willing to risk being stigmatised by taking advantage of such a situation. And a strategic defaulter is...


Shaming strategic defaulters may help reduce NPLs, economist says


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