Greece: contingency plan needed

The regulatory framework and heightened monitoring by regulators and stakeholders are impacting bank boards in  Greece, forcing directors and officers to face various challenges. Upcoming challenges include the potential end of quantitative easing, combined with the necessity for higher profitability in an acutely risky environment.

In addition, the finalisation and implementation of Basel III and continuous stress tests, draw a rather gloomy picture for the directors and officers of Greek banks, especially since in Greece there has been no modernisation of the corporate governance regime.