Banking
A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...
in
Greece
Greece, officially the Hellenic Republic, is a country in Southeast Europe. Located on the southern tip of the Balkan peninsula, it shares land borders with Albania to the northwest, North Macedonia and Bulgaria to the north, and Turkey to th ...
made up the relative majority of assets and liabilities of Greece as of 2008.
On 29 June 2015 banks were shut down and capital controls were imposed. As of October 2018, the capital controls were brought to an end.
Greek banks are ''de facto'' owned by
Eurozone
The euro area, commonly called the eurozone (EZ), is a Monetary union, currency union of 20 Member state of the European Union, member states of the European Union (EU) that have adopted the euro (Euro sign, €) as their primary currency ...
countries through the
Hellenic Financial Stability Fund, effectively a subsidiary of the
EFSF
The European Financial Stability Facility (EFSF) is a special purpose vehicle financed by members of the eurozone to address the European sovereign-debt crisis. It was agreed by the Council of the European Union on 9 May 2010, with the object ...
/
ESM administered by the
Eurogroup
The Eurogroup is the recognised collective term for the informal meetings of the finance ministers of the eurozone—those member states of the European Union (EU) which have adopted the euro as their official currency. The group has 20 members ...
outside official
European Union
The European Union (EU) is a supranational union, supranational political union, political and economic union of Member state of the European Union, member states that are Geography of the European Union, located primarily in Europe. The u ...
institutions.
See also
*
List of banks in Greece
*
Economy of Greece
References
External links
List of largest Greek banks
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