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Non-Performing Loans and Resolving Private Sector Insolvency

Experiences from the EU Periphery and the Case of Greece

  • Platon Monokroussos
  • Christos Gortsos

Table of contents

  1. Front Matter
    Pages i-xxvi
  2. Platon Monokroussos, Christos Gortsos
    Pages 1-14
  3. Theoretical Perspectives and Empirical Evidence

    1. Front Matter
      Pages 15-15
    2. Rodrigo Olivares-Caminal, Andrea Miglionico
      Pages 17-45
    3. Konstantinos I. Nikolopoulos, Andreas I. Tsalas
      Pages 47-68
  4. International Experience in Dealing with Private Sector Insolvency: Challenges, Remedial Strategies and Lessons Learned

    1. Front Matter
      Pages 69-69
    2. Ana Rubio, Olga Gouveia, José María Álvarez
      Pages 71-92
    3. Marios Clerides, Michalis Kammas, George Kyriacou
      Pages 127-156
  5. Greece: Private Sector Bad Loans—Problem Dimensions, Intrinsic Characteristics and Remedial Strategies

    1. Front Matter
      Pages 157-157
    2. Platon Monokroussos, Dimitrios Thomakos, Thomas A. Alexopoulos, Eleni Lydia Tsioli
      Pages 181-225
    3. Ioannis Asimakopoulos, Dimitris Malliaropulos, Panagiotis K. Avramidis, Nickolaos G. Travlos
      Pages 227-253
    4. Nikolaos Vettas, Sophia Stavraki, Michalis Vassiliadis
      Pages 307-333
  6. Dealing with Private Sector Insolvency in Greece: Legal Aspects and Institutional Perspectives

  7. Back Matter
    Pages 431-438

About this book

Introduction

This book explores the issue of private sector over-indebtedness following the recent financial crisis. It addresses the various challenges for policymakers, investors and economic agents affected by applied remedial policies as the private non-financial sector in Europe continues to face increased challenges in servicing its debt, with the problem mainly concentrated in several countries in the EU periphery and Eastern Europe. Chapters from expert contributors address reduced investment as firms concentrate on deleveraging and repairing their balance sheets, curtailed consumer spending, depressed collateral values and weak credit creation. They examine effective policies to facilitate private sector debt restructuring which may involve significant upfront costs in terms of time to implement and committed budgetary resources, as well as necessary reforms required to improve the broader institutional framework and judicial capacity. The book also explores the issue of over indebtedness in the household sector, contributing to the literature in establishing best practice principles for household debt.

Keywords

Private Sector Insolvency Household debt Global financial crisis over-indebtedness Financial stability Corporate debt management Greek sovereign debt crisis Moral hazard Corporate financial distress Household financial distress SMEs Insolvency framework

Editors and affiliations

  • Platon Monokroussos
    • 1
  • Christos Gortsos
    • 2
  1. 1.Group Chief Economist Eurobank Ergasias S.A.AthensGreece
  2. 2.Hellenic Bank AssociationCounsel to the Board of DirectorsAthensGreece

Bibliographic information

  • DOI https://doi.org/10.1007/978-3-319-50313-4
  • Copyright Information The Hellenic Bank Association 2017
  • Publisher Name Palgrave Macmillan, Cham
  • eBook Packages Economics and Finance
  • Print ISBN 978-3-319-50312-7
  • Online ISBN 978-3-319-50313-4
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking