Kathimerini States Bad Greek Loans Likely to Exceed 31 Billion Euros

Bad loans at Greek banks in 2011 are likely to exceed 31 billion euros ($41 billion), or 12% of total loans, up from 10% this year, Kathimerini reported, citing bank officials.
The deterioration is probable because of falling household and business incomes, amid recession and rising unemployment, the newspaper said.
This year’s bad loans ratio for households alone is likely to be about 20%, up from 16.7% at the end of June, Kathimerini said.