Cyprus Mail
Greece World

Greece needs to recapitalise its banks by year end – Dombrovskis

Greece needs to have its biggest lenders recapitalised by the end of the year, EU Commission Vice-President Valdis Dombrovskis said on Tuesday.

“We all agree to finalise bank recapitalisation by end of this year,” Dombrovskis said after meeting Greece’s central bank governor Yannis Stournaras.

Dombrovskis is in Athens for talks on reforms Greece needs to complete before a review which would unlock new aid for the country under an 86 billion euro bailout.

Under the deal, Greece is set to receive up to 25 billion euros of international money to recapitalise its banks, three of which are majority-owned by Greece’s bank bailout fund HFSF.

The European Central Bank’s Single Supervisory Mechanism is currently assessing the capital needs of National Bank of Greece , Piraeus, Alpha Bank and Eurobank .

The ECB is expected to release the results of the financial health check on the banks on Oct 31.

Related Posts

Suspected Omicron case found in Germany – regional minister

Reuters News Service

Coronavirus: 61 travellers from South Africa in Netherlands test positive

Reuters News Service

U.S. says ‘all options’ on the table over Russian troop build-up near Ukraine

Reuters News Service

WHO names new COVID variant omicron, cautions against travel measures

Reuters News Service

Turkish court rules to keep Kavala in jail during trial

Reuters News Service

UK COVID genomics head says new variant likely to come to UK

Reuters News Service

1 comment

Comments are closed.