Cabinet prepares for bank recapitalization

The heads of (right to left) Piraeus Bank Michalis Sallas, Alpha Bank Yiannis Costopoulos, Eurobank EFG Dimitris Nanopoulos and National Bank Vassilis Rapanos are expecting to hear on Friday of a new set of measures from Cabinet on the context of the lenders? recapitalization.

Sources suggest that the government will proceed with a series of preparatory moves to ensure the strengthening of the credit system until the final structure of the recapitalization is determined after the May 6 general elections.

Besides the four major commercial banks, Cabinet will also discuss the distribution of capital to other lenders, too, so as to have the funds set aside by the Hellenic Financial Stability Facility (HFSF) to immediately bolster local banks.