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GreekReporter.comGreek NewsEconomyNew Democracy Spokesman Says Cost of Bank Recapitalization has Greatly Increased

New Democracy Spokesman Says Cost of Bank Recapitalization has Greatly Increased

Costas KaragounisThe plunge of the Greek banking stocks at the Athens stock exchange combined with the recent closure of the country’s lenders, as well as the imposition of capital constraints has greatly increased the cost of the recapitalization of the country’s lenders, New Democracy main opposition spokesman said.
Costas Karagounis said that the cost rises for both the previous recapitalization “which has already been successfully completed, but whose share value which is held by the state has almost been reduced to zero,” as well as the new recapitalization currently being discussed with Greece’s partners. He added that the need for a new recapitalization was created because of the government’s irresponsibility.
“Greek tax payers are paying and will continue to pay dearly for the mistakes and the omissions of the government in the last six months,” New Democracy spokesman added.
(source: ana-mpa)

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