ECONOMY

Legislative framework on bank recap due on Wednesday

legislative-framework-on-bank-recap-due-on-wednesday

The prime minister will chair an extraordinary meeting of the government councils of Financial Policy and Social Policy on Tuesday to discuss the recapitalization of the country’s banks, as on Wednesday the government will present the new legislative framework on the process.

The new law will include incentives for the participation of private investors, while bank sources estimate that after the incorporation of the restructuring plans the amount that the private sector will be asked to cover in the share capital increases will be below 10 billion euros.