Bank of Greece report optimistic that banking sector has ‘weathered the storm’


The Bank of Greece has struck a hopeful note in its Report on Monetary Policy for 2012–13, pointing to signs that growth may soon return, but also urging the government to stick to its reform programme.

"The Greek banking system has weathered the storm and proved resilient to the severe crisis," the central bank said, adding that twin – fiscal and external – deficits have declined "considerably" and the country's stabilisation programme "is judged to be well on track".

The Bank of Greece said an

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