COMMENT

Recapitalizing the banks

Greece must get moving with plans for the further recapitalization of local banks and refuse to allow the issue to become the subject of partisan confrontations.

In the case of Eurobank, there is clear investment interest as long as legislation is approved that will enable the members of the Hellenic Financial Stability Fund to give their own approval.

Should the legislation be voted down in Parliament and the investment fall through, the country will effectively have squandered a rare opportunity to attract fresh funds, which it so desperately needs.

In fact, failure to pass the legislation could destabilize the domestic banking system once more.

All sides should bear in mind that in the past the political opposition was on a number of occasions wrong to cry foul about deals that turned out to be very beneficial for the country.

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