Albanian Financial Stability Advisory Group held a meeting with the presence of high ranked finance officials of the government and important financial institutions to discuss about the latest developments in Greece and the impact of the Greek crisis in Albania’s economy. Present in the meeting were the minister of finances Shkelqim Cani, the Bank of Albania’s Governor Gent Sejko, the general directors of the Financial Supervisory Authority and Deposit Insurance Agency.
According to a press release by the Ministry of Finances, the finance experts analyzed the activity of the bank system in the country and the evaluation of the effects of a possible Grexit or developments in the Euro zone countries. Representatives of the Albanian Financial Stability Advisory Group declared at the meeting that it is following the latest developments in European Union and in Greece. At the moment when Greek banks closed, the Bank of Albania intensified its supervisory activity in the Albanian bank system and the exchange of the information with international financial institutions.
The fluctuations of the transactions in the bank system have progressively increased with the increase of deposits, thus reflecting financial stability as it has been claimed in the past weeks. This has come due to the interruption of transactions between the private banks with their owner-bank groups in Greece and other European countries.
Despite the upcoming developments and decisions for the Greek crisis, the Financial Stability Advisory Group ensured that the taken measures guarantee an effective support and a non risky situation in relation to the developments in Greece.
News source/photo credits: ATA / Lefteris Heretakis (Flickr)
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