Former caretaker prime minister Panagiotis Pikrammenos has explained that the administration he was in charge of had prepared plans to shut down Greece’s banking system if elections in 2012 could not produce a government, Ekathimerini.com reported. Two ballots were held in May and June of 2012, with the second one eventually resulting in a three-party government led by New Democracy. “We were on the verge of bankruptcy,” Pikrammenos told Skai in an interview. “If elections [had] failed to yield a clear result, we would [have] shut down the banks.
Orange2Fly charter flight airline has filed for bankruptcy, ekathimerini.com reported. The Greek carrier, which was set up in September 2015 with share capital of 200,000 euros, has a fleet of four Airbus A320 aircraft, but in those six years of operation it failed to strengthen its financial report. In 2020 it had a negative net position of 7.8 million euros, with accumulated losses of 9.5 million euros and total obligations of 11.6 million euros.
Greek banks, among Europe’s weakest, are getting rid of their bad loans at a healthy clip. In spring, the pandemic interrupted plans among the country’s banks to shed loans still festering from the eurozone crisis a decade ago, The Wall Street Journal reported. But stimulus from central banks and governments globally has sent fresh cash into funds that buy non-performing loans, reinvigorating the efforts.