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Stournaras
Expresses hope HFSF to find long-term investors to sell bank stakes
Bank of Greece governor Yannis Stournaras expressed his hope the country’s bank rescue fund HFSF to sell its stake in local lenders to good, long term-investors.
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Bank of Greece governor Yannis Stournaras expressed his hope the country’s bank rescue fund HFSF to sell its stake in local lenders to good, long term-investors. 

“I know this is difficult, because still, we don't have a completely unified banking sector in Europe," he said. "But I still hope that the HFSF will strive to find good strategic investors, long term investors, to sell its shares,” Stournaras told an interview with Reuters. 

Referring to the impact of a deadly storm that hit Greece last month and led to floods, the central bankers said that it can be tackled without any "major effect" on the economy.

Greece can make use of better that expected budget revenues, along with EU funding, he said. 

The banking sector might record a small rise in non performing loans (NPL), he said, but banks are in a good position to deal with it.

"They have buffers, what happened will not back track the reduction of the NPL ratio," Stournaras  said.

He also said that the government’s target of 3% growth target next year is feasible, adding that  "the central bank's prediction is very close to this.” 

He said that in the next five to six years, Greece will experience strong foreign capital inflows, either in foreign direct investment or in subsidies and on top of that it will achieve primary surpluses.

"This justifies why numbers of 2.5%, 2.7% or even 3% are considered to be realistic," he stressed.

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