ECONOMY

Stournaras meeting with banks is postponed

The key meeting between the finance minister and the heads of Greek banks, that will examine the terms and the timetable of the recapitalization process of the local credit system, has been postponed to Monday.

Minister Yannis Stournaras and the leadership of the Hellenic Bank Association will also discuss the imposition of an extraordinary levy on lenders so as to cover the 550 million euros of the dividend of the state support that banks have received through the issue of preferred shares, pending for 2012.

The process for the capital strengthening of sustainable banks will have to be completed by the end of April of 2013, so that the capital adequacy indices (Core Tier I) of banks reach the threshold of 9 percent of their assets.