Thursday March 5, 2015 Search
Weather | Athens
20o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Brussels sets rules on Eurobank

By Vassilis Ziras and Yiannis Papadoyiannis

Brussels has issued strict guidelines to Athens regarding the coverage of Eurobank’s capital needs, given that the country’s other systemic banks will cover their requirements from the private sector.

According to sources, European Competition Commissioner Joaquin Almunia sent the Greek Finance Ministry a letter containing four clear demands, from which it stems that the issue price of the new Eurobank shares will determine whether the lender’s share capital increase will be covered by private funds in its entirety or if a part will be covered by its main stakeholder, the Hellenic Financial Stability Fund (HFSF).

The same sources said the four demands are: that the bank must adopt measures to strengthen its capital base and draw funds from the market; state assistance via the HFSF must be as little as possible; the HFSF should only participate if the investors’ response proves insufficient; and, in case the HFSF does participate, the subordinated debt should be subject to a haircut.

The multi-bill that will include crucial clauses on banks is expected to be tabled in Parliament on Thursday, with the aim of passing it into law next Monday.

Sources say that the bill will clarify how Eurobank’s privatization will be realized, while giving the HFSF greater flexibility to secure the lenders’ return to the private sector.

ekathimerini.com , Tuesday March 25, 2014 (17:37)  
Industrial products offset agricultural exports’ losses
BoC disposing of 41 properties across Greece
RAE offers gift to natural gas power plants
Emergency intervention by BoG to acquire T-bills
Police, ministry dodge blame for migrants order
The Greek Police and the Interior Ministry on Wednesday both dodged the blame after new police guidelines on migration control were issued and then revoked within a few hours following a veh...
Speaker says laws may not stand
Parliament Speaker Zoe Constantopoulou suggested on Wednesday that some laws voted by less than 151 of 300 MPs when Golden Dawn MPs being held in pretrial custody were not allowed to cast ba...
Inside News
SOCCER
Super League restarts, but behind closed doors
Deputy Minister for Sports Stavros Kontonis announced on Wednesday the resumption of the Super League this weekend after it was suspended last week following crowd trouble at the Athens derb...
SOCCER
Marinakis fines Olympiakos players
Olympiakos president Evangelos Marinakis on Monday fined the team 500,000 euros for disappointing performances and called on them to make a «sacrifice» to win trophies or leave. "Olympiakos ...
Inside Sports
FOCUS
Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
Strapped for cash and under pressure to deliver on reforms, Greece's new radical government has ruffled feathers in Brussels by not respecting the diplomatic niceties of the negotiating tabl...
COMMENTARY
Up the creek without a paddle
One of the issues that dominated the country’s pre-election debate was whether SYRIZA, which eventually won the vote, had worked out a plan B. It was clear from the start that its much-hyped...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Industrial products offset agricultural exports’ losses
2. BoC disposing of 41 properties across Greece
3. RAE offers gift to natural gas power plants
4. Emergency intervention by BoG to acquire T-bills
5. Valavani offers debt penalty write-off
6. Police, ministry dodge blame for migrants order
more news
Today
This Week
1. Up the creek without a paddle
2. Greek officials have ruffled feathers in Brussels for not having good diplomatic manners
3. Panousis says no official decision on undocumented migrants
4. More Germans booking holidays in Greece, tourism chief says
5. For Greece, a lesson from Ireland, Kenny says
6. ECB glimpse of Cyprus debt shows limits of bank cleanup
Today
This Week
1. Greece to make international protest over Turkey reserving Aegean air space
2. A fierce battle looms
3. SYRIZA feeling the pain
4. The Greek tax drama
5. The unlikely winners of Greece's surrender on euro
6. Tsipras reversal draws Greek sympathy as party rumblings rise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.