Greece has been dealing with asset quality issues for many years and now it is the time to speed up efforts in order to approach EU averages within a reasonable amount of time.
Over the next few months, adequate instruments should be established for an orderly and swift debt resolution, while the European Commission should provide the necessary authorisation without undue delays, taking into account the probability of external, worldwide downside risks. It should be reminded that all Member States under financial stress have made use of similar systemic solutions, in the form of Asset Management Companies.