ECONOMY

BoG chief says bank recapitalisation, inflows to boost economy

Greece’s bank recapitalisation scheme and continued deposit inflows will help the country pull itself out of a deep recession, central bank head George Provopoulos said on Wednesday.

“The completion of the recapitalisation process, the continuing trend of deposit returns and a gradual comeback of Greek banks and businesses to international capital markets create more favourable conditions for the economy,» said Provopoulos.

The economy, which is in its sixth year of recession, is expected to shrink 4.5 percent this year.

[Reuters]