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Development and Prospects of the Greek Cooperative Credit System

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  • Karafolas, Simeon

Abstract

The credit cooperative system was established in Greece in 1993, following the creation of the appropriate legislative framework. The Greek system distinguishes two types of institutions: the cooperative bank that functions as a bank and the credit cooperative that cannot provide banking services. The Greek cooperative system is characterized by the autonomous and nonhomogenous development of the cooperative banks and credit cooperatives. Moreover, in 2001 the cooperative banks created a central nation-wide bank that has since helped the further development of the credit cooperative system. However and despite the large number of geographic departments involved in the credit cooperative system, the expansion of cooperative banks in the Greek bank market is limited, principally due to legislative restrictions and the lack of dynamism these restrictions create to the credit cooperative system, while operating in a very competitive market environment.

Suggested Citation

  • Karafolas, Simeon, 2005. "Development and Prospects of the Greek Cooperative Credit System," Journal of Rural Cooperation, Hebrew University, Center for Agricultural Economic Research, vol. 33(1), pages 1-18.
    • Handle: RePEc:ags:jlorco:59700
    DOI: 10.22004/ag.econ.59700
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    Cited by:

    1. Vasiliki MAKRI & Konstantinos PAPADATOS, 2016. "Determinants Of Loan Quality: Lessons From Greek Cooperative Banks," Review of Economic and Business Studies, Alexandru Ioan Cuza University, Faculty of Economics and Business Administration, issue 17, pages 115-140, June.
    2. Achilleas KONTOGEORGOS & Fotios CHATZITHEODORIDIS & Efstratios LOIZOU, 2016. "Adaptation strategies for the Greek agricultural cooperatives during the economic crisis," Agricultural Economics, Czech Academy of Agricultural Sciences, vol. 62(1), pages 26-34.

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    Keywords

    Agribusiness;

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