Friday December 19, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
HFSF to promise funds for lenders

 No decision yet on recapitalization terms, the aim is to retain the banks’ private character
Prime Minister Lucas papademos (left) discussed the recapitalization of banks with Bank of Greece Governor Giorgos Provopoulos on Thursday.

By Yiannis Papadoyiannis

The difficulties emerging in reaching an agreement on the terms of the recapitalization of Greek banks is likely to postpone the announcement of the details of its application, set for today, although the commercial lenders will receive a formal assurance they are to receive 23 billion euros to boost their capital.

With the country’s main banks set to present record losses upon announcing their 2011 financial results on Friday, Kathimerini understands that the Hellenic Financial Stability Fund (HFSF) will send a letter to the management of National, Eurobank EFG, Alpha and Piraeus this morning that will state its commitment to paying the money needed for the recapitalization if the lenders stick to the capital enhancement plans they have submitted to the Bank of Greece.

The country’s central bank has already approved those plans as realistic, and the HFSF letter will allow the accountants to sign certificates that the lenders are risk-free. That is particularly important as the delay in the finalization of the terms of the planned recapitalization had rekindled worries about a possible crumbling of the local credit system.

On Thursday Prime Minister Lucas Papademos met with Central Bank Governor Giorgos Provopoulos, but their meeting proved inconclusive regarding the details of the process.

The sticking point is how the private character of the lenders can be retained.

The structure of the intervention and the incentives for the participation of the private sector will likely be decided by the government to emerge from next month’s elections.

Marfin Analysis estimates that in order for the country’s main banks to restore their capital base and to strengthen their Core Tier I index up to the 10 percent threshold, National Bank will need to find 6.6 billion euros, Eurobank must get 4.6 billion, Alpha needs 2.6 billion and Piraeus should draw 4.6 billion euros.

ekathimerini.com , Thursday April 19, 2012 (22:50)  
Importers told to pay up in advance
Jobless rate posts steady decline
Piraeus and KKR strike loans portfolio deal
German approval and praise come at key time
Independent Greeks leader backs MP´s bribery claims, threatens to release video
At an emergency press conference on Friday, Independent Greeks leader Panos Kammenos backed allegations by his MP Pavlos Haikalis according to which a middleman tried to bribe the latter to ...
Ministry rebuffs reports that Amphipolis skeleton has been identified
The Greek Culture Ministry on Friday denied press reports according to which the human remains discovered in an excavation at the site of Ancient Amphipolis in northern Greece have been iden...
Inside News
SOCCER
PAOK loss at Giannina brings Olympiakos to within a point
The bad losses that PAOK and Panathinaikos suffered on the road on Thursday allowed Olympiakos to gain significant ground on the table and come to within one point from the top after the mid...
BASKETBALL
Reds lose in Turkey to motivated Galatasaray
Olympiakos went down at Galatasaray 79-74 on Thursday for its second defeat in the first round of the Euroleague that ended with the Reds topping their pool with eight wins in 10 games. With...
Inside Sports
COMMENTARY
New weapons of diplomacy
Hollywood screenwriters couldn’t make it up: That Sony, one of the world’s biggest film producers, would be forced to pull a comedy about the assassination of North Korea’s dictator after a ...
EDITORIAL
Oblivious to change
The world around us is undergoing many important changes while we sit around stewing in our own juices. US President Barack Obama is actually talking with Cuba’s Raul Castro, for example, bu...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Independent Greeks leader backs MP´s bribery claims, threatens to release video
2. Ministry rebuffs reports that Amphipolis skeleton has been identified
3. Gov´t spokeswoman says bribery claims ´badly-played charade,´ heralds legal action if evidence not produced
4. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
5. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
6. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
more news
Today
This Week
1. Independent Greeks MP Haikalis claims attempted bribery for presidential vote
2. Greek PM Samaras confronts peril putting his Greek transformation to vote
3. Ship with 200 migrants off Pylos towed to Italy after passengers refuse to stop in Greece
4. Former premier Mitsotakis to meet President Papoulias to discuss political upheaval
5. Gov't spokeswoman says bribery claims 'badly-played charade,' heralds legal action if evidence not produced
6. Ministry rebuffs reports that Amphipolis skeleton has been identified
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. High stakes
6. Gap between SYRIZA and New Democracy closing, says poll
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.