No voting rights in new bank shares
The recapitalization of local banks will take place with the issue of shares of a special type that will have no voting rights, a plan that removes the threat of the lenders? nationalization.
This was among the demands that Greece?s creditors, the eurozone and the International Monetary Fund submitted to the government last week.
Sources suggest that one of the plans is for the whole of the impact of the private sector involvement plan (PSI+) on the banks? capital adequacy to be covered by shares without voting rights. Since the lenders? need for recapitalization is due to the state?s incapacity to serve its debts, a nationalization of the banks would be at least paradoxical.
