Regional government appeals funds conversion

The Regional Authority of the Peloponnese is appealing against the conversion by the Bank of Greece of a significant amount of local government funds into government bonds as part of a deal on private sector involvement (PSI) in a Greek debt write-down last March.

The region?s governor, Petros Tatoulis (photo), defined the conversion as ?embezzlement? on the part of the Greek lender and its management, including the bank?s governor, who authorized the deal.