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Greece

In: Banking in the New Europe

Author

Listed:
  • Christos Gortsos

Abstract

The structure of the contemporary Greek banking system was shaped in the 1920s with the foundation of a state-controlled monetary authority, the Bank of Greece (BoG), and two state-controlled specialised banks, one for financing housing investments (the National Mortgage Bank of Greece) and the other for agricultural production (the Agricultural Bank of Greece). These institutions operated, along with a handful of commercial banks, most of which had been established in the second half of the 19th century, within a comprehensive legal framework established by the 1931 Banking Law. During the 1930s several small banks went bankrupt and were closed down, while several others were absorbed as a result of the 1929 international monetary and financial crisis.

Suggested Citation

  • Christos Gortsos, 2002. "Greece," Palgrave Macmillan Books, in: Edward P. M. Gardener & Philip Molyneux & Barry Moore (ed.), Banking in the New Europe, chapter 6, pages 128-159, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-59999-4_6
    DOI: 10.1057/9780230599994_6
    as

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