Temps sought for positions on HFSF board

Temps sought for positions on HFSF board

The Finance Ministry tabled an amendment in Parliament on Wednesday that would allow the positions on the three-member executive board of the Hellenic Financial Stability Fund (HFSF) to be filled temporarily until permanent members can be found.

Staff already working at the recapitalization fund will be appointed to the temporary placements, which will also apply if there is a future departure from the executive board. Those taking up the temporary positions will be able to choose whether they keep their existing salary or switch to the one that goes with the new position.

According to the amendment, only a member of the HFSF’s general council can be appointed chief executive officer, while only high-ranking officials at the fund can be given positions on the executive board.

The general council will recommend potential candidates for the temporary positions to the finance minister but the appointment of each official will also have to be cleared by the Euro Working Group, which advises the Eurogroup.

The HFSF is currently the largest single shareholder in Greek banks, with controlling stakes in National and Piraeus and smaller stakes in Alpha and Eurobank.

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