Banker Levon Hampartzoumian: Greek Banks In Bulgaria are Safe

Business » FINANCE | January 30, 2015, Friday // 15:19
Bulgaria: Banker Levon Hampartzoumian: Greek Banks In Bulgaria are Safe Banker Levon Hampartzoumian. Photo: BGNES

Greek banks opeerating in Bulgaria are not threatened by the policies of the anti-austerity SYRIZA party, leading banker Levon Hampartzoumian said.

''They are following the local rules and have been capitalized, so whatever happens abroad they should remain stable,'' he told private bTV station on Friday. ''We are very far from dramatic scenarios, so people should not worry about that.''

Hampartzoumian further assured that Bulgaria has the financial resources to pay the amounts due to bank customers if necessary, but there simply won't be any crisis situation.

Greek foreign debt has amounted to EUR 240 B or 175% of the country's GDP. The Bulgarian banker explained that in order to return the full amount, Greeks should work incessantly for two years without receiving salaries or any other benefits. This however, is not possible, so the process will undoubtedly take longer.

Ruling party SIRIZA expressed a willingness to renegotiate Greek foreign debt on Tuesday and received moderate reactions from EU institutions.

Hampartzoumian also stated that an increase of the minimal wage to EUR 750 would be possible in Greece, but only for a short period of time.

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Tags: Bulgaria, greece, Syriza, banks, debt, austerity, minimum wage

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