ECONOMY

Still no full agreement on lender recap terms

Greece?s government has yet to settle on the final terms to recapitalize the nation?s banks after a 100-billion-euro writedown of sovereign debt, said an official at the Hellenic Financial Stability Facility.

Agreement still needs to be reached on a number of different issues and this may not occur before May 6 elections, the official, who declined to be named, said after a meeting in Athens on Tuesday between Panayiotis Thomopoulos, the head of the fund, and Prime Minister Lucas Papademos.

The official said he hoped the full 50 billion euros allocated to the fund would not need to be used and that an initial 18 billion euros had been provided to the four biggest Greek banks in the form of commitments. [Bloomberg]