ECONOMY

Coeure says Greek bank recap mustbe completed by year-end

coeure-says-greek-bank-recap-must-be-completed-by-year-end

The recapitalization of Greek banks should be completed this year, a top European Central Bank official said on Wednesday.

“The health check by the ECB of the large Greek banks is another step forward, and bank recapitalization should be completed by the end of the year,” Benoit Coeure, a member of the ECB’s Executive Board, told newspaper El Financiero.

“The situation in the euro area is considerably more robust than it was a couple of years ago,” he added.

[Reuters]