The Ministry of National Economy and Finance has issued a announcement-response to Alexis Tsipras, highlighting the positive performance of Greek banks and the rapid consolidation of their balance sheets.

Greek banks, from almost 50% “red” loans on their balance sheets, are now at an historically low NPL ratio of 3.3%, according to a statement today in response to statements by former prime minister, Alexis Tsipras, the Ministry of Economy and Finance.

More specifically, the statement of the Ministry of National Economy and Finance reads as follows:

“Mr Tsipras is once again attempting the well-known political paradox: to appear like a firefighter in the fire he himself lit. With Law 4354/2015, Mr Tsipras has institutionalised the operation of funds and servicers. In 2017 it introduced electronic auctions and from 2018 it turned them into a daily routine. Under his watch, “red” loans soared to €107 billion and remained over 43% of all loans, when the rest of Europe was already drastically reducing them.

He never allowed borrowers to buy back their loans at the prices at which funds acquired them. Instead, Tsakalotos said in 2017 that it was “not reasonable” to give them that option. And while for years he fostered false hopes in thousands of borrowers in Swiss francs, he never provided any real solution.

And now, with staged videos of social sensitivity, he attempts to present himself as a defender of the weak. Only the videos are forgotten. The signatures remain.

Today, the country’s image is nothing like the chaos delivered by Alexis Tsipras.

The non-performing loans have fallen from €99.7 billion in 2018 to 72.6 billion. EUR.

The ratio of non-performing loans to performing loans has fallen from 101.3% to 40.5%.

Serviceable lending is now more than double non-performing loans: EUR179.2 billion versus EUR72.6 billion.

Greek banks, from nearly 50% “red” loans on their balance sheets, are now at an all-time low NPL ratio of 3.3%.

The Heracles programme has consolidated the banking system, contributed decisively to the recovery of the investment grade and allowed banks to return to their core role: financing households and businesses.

In the last six months alone, an average of €330 million in debt settlements were made every month in the last six months alone, with 42% involving mortgages.

Ab data-path-to-node=”10″ data-index-in-node=”3″>80% of auctions are eventually suspended, while in residential property auctions are running at around 10% of all residential properties.

For the first time, a substantial possibility is given to protect the main residence through the extrajudicial mechanism, with the possibility of a larger “haircut” and lower instalments.

And also, for the first time, there is a comprehensive solution for borrowers in Swiss francs, with the possibility of a settlement, significant debt relief and long-term sustainable solutions.

The difference is simple: Tsipras is investing in the problems, even the ones he created. The government is investing in the solutions.”