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BrackenJanuary 2 2017

Six key steps towards resetting the Greek banking system

As Greece works towards moving out of recession, the removal of capital controls are essential. But there should be strict conditions before this happens, warn Nikolaos I Georgikopoulos and Michael L Pinedo.
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Undoubtedly, 2017 is a key year for resetting the Greek economy from recession to growth. The Greek banking system should have a leading role in this, so that Greece can exit recession as soon as possible and at the same time achieve sustainable economic growth in the coming years.

The recovery of the Greek economy and the achievement of sustainable economic growth require a healthy, functional and viable banking system. Nowhere in the world could sustainable growth be observed if the financial system did not function properly, its key role being the provision of liquidity from those who have surpluses (depositors and investors) to the real economy that displays a lack of funds (businesses and households) through the channel of credit growth.

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