Recent Study: Financial Cards and Payments in Greece
With respect to consumers, booming unemployment rates, wage and pension cuts and rising taxation are resulting in a decline in consumption and widening insolvency. Greek banks are registering record losses due to their participation in the PSI (Greek bond reduction), the explosion in non-performing loans and massive deposit withdrawals under the fear of bankruptcy. In this context, banks are rejecting the majority of new credit card applications, reducing credit limits and off-loading insolvent...
View full press release