Blood­suck­ing zom­bies

Kathimerini English - - Front Page -

Non­per­form­ing loans ex­tended to busi­nesses have be­come a Gor­dian knot that must be sev­ered, and as soon as pos­si­ble. The Greek bank­ing sys­tem is bur­dened with dozens of zom­bie com­pa­nies that have been al­lowed to stum­ble along over the past few years do­ing noth­ing but suck­ing on what lit­tle lifeblood there is left in the mar­ket. Th­ese busi­nesses do not pay their work­ers or so­cial se­cu­rity con­tri­bu­tions, they don’t ser­vice their debts or keep up to date with their tax pay­ments, yet some­how they con­tinue to ex­ist. Banks are long over­due in deal­ing with this is­sue, claim­ing that they are un­able to push a so­lu­tion be­cause of short­com­ings or grey ar­eas in the leg­is­la­tion. But some­thing needs to be done, be­cause get­ting the econ­omy back on its feet will be that much harder if this prob­lem is al­lowed to linger.

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