Friday August 22, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HFSF blocks Eurobank’s share capital increase plan

By Yiannis Papadoyiannis

The management of Greece’s bank bailout fund (HFSF) has reacted strongly against Eurobank’s decision to call an extraordinary general meeting of shareholders for a share capital increase based on the existing legal framework.

Late on Wednesday the HFSF sent a letter to Eurobank’s administration demanding it halt its procedure to the increase under the existing law as that would lead to its coverage only by private funds. This morning the governing board of Eurobank was set to convene to align itself with the guidelines of its stakeholder, the HFSF.

Sources said yesterday that Eurobank’s administration informed the HFSF in the last few days of its decision to propose an immediate share capital increase so as to cover its capital requirements with a full refusal of the pre-emption rights of existing shareholders.

Eurobank’s intention was to perform the increase using the existing legal framework and have it covered by private funds that have expressed a strong interest in participating in the process, while minimizing the losses for the current stakeholder, the HFSF.

The fund, on the other hand, appears irked by the decisions of the bank’s officials, arguing that if it does not participate, its interests – and therefore those of taxpayers – will be harmed.

ekathimerini.com , Wednesday March 12, 2014 (21:53)  
Report: Greek banks sturdily positioned
Economy stunted by property tax demands, report says
Primary surplus exceeds January-July target figure
Ryanair in Cyprus Airways talks
KEELPNO blames stomach bug for sick tourists on Rhodes
The Center for Disease Control and Prevention (KEELPNO) on Thursday contradicted foreign press reports according to which hundreds of tourists suffered food poisoning at a hotel on Rhodes ea...
KEPs to issue new and replacement driving licenses
Greeks and foreigners living in Greece will no longer have to queue up at the Transport Ministry to get new or replacement driving licenses as the government decided yesterday that Citizen S...
Inside News
SOCCER
Greek soccer officials in refereeing probe to face prosecutor on Sept 15
Eleven soccer officials were on Wednesday given until September 15 before they have to face prosecutor Aristidis Koreas, who is investigating allegations that the draws to decide which match...
ATHLETICS
Long jumper Tsatoumas takes Greece´s second silver at European Championships
Greece won its second medal at the European Athletics Championships in Zurich, Switzerland, on Sunday with Louis Tsatoumas coming second in the long jump. Briton Greg Rutherford won the even...
Inside Sports
COMMENTARY
Self-destructing political system
It finally seemed as if we had found some peace of mind. The vast majority of Greek MPs chose to abstain from festivities on August 15, also known as Assumption Day, thus sparing us from the...
EDITORIAL
Welcome movement
Many have spoken about the need to spur economic growth in this debt-wracked country, but very few officials seem to actually be doing anything meaningful to make this happen. Recent weeks h...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. KEELPNO blames stomach bug for sick tourists on Rhodes
2. Report: Greek banks sturdily positioned
3. Economy stunted by property tax demands, report says
4. Primary surplus exceeds January-July target figure
5. KEPs to issue new and replacement driving licenses
6. EU funds reserved for waste facilities in northern Greece
more news
Today
This Week
1. Merkel cites euro’s ‘construction flaws’ as economy sputters
2. Brussels warns Greece over plans to allow construction near Korinos beach
3. Second man held over double murder in Mani
4. Avramopoulos in US for talks with Hagel on possible Greek role in peace missions
5. Eurozone business growth slows in July, prices fall: PMI
6. Inspectors visit Rhodes to probe reports of mass food poisoning of hotel guests
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Treating Amphipolis with care
3. Canada’s fiscal adjustment has lessons for Greece
4. Greece to offer law on restructuring bad loans next month
5. Ministry sys ‘no’ to debt collection agencies
6. Karatzaferis eyes ND-LAOS alliance to stop Tsipras
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.