The Strength of Economic Recovery I would like to start by examining the strength of the self-sustained economic recovery over the past several years. According to the Economic Planning Agency, the current economic recovery began in October 1993, and has continued for about three and a half years.
Non-performing loans The high stock of non-performing loans (NPLs) on banks’ balance sheets remains the major challenge for Greek banks and a serious constraint on their lending capacity. Banks are using the 3/8  BIS central bankers' speeches  options provided by the improved legal and regulatory framework, which has removed significant institutional and administrative impediments to NPL reduction.