bank recapitalization

Greek Fin Min Promises Easing of Capital Controls

Greek Finance Minister Euclid Tsakalotos announced the easing of capital controls as of next week and said that those who make new deposits in Greek banks would be allowed free capital movement. Tsakalotos spoke on national broadcaster ERT on Monday...

Greek Government Pretends to Win Battles Against Imaginary Enemies

One of the main principles of propaganda is to create imaginary enemies; vague, invisible entities, the "bad guys" in a simplified story of the good "us" against "them". Common phrases one would hear coming from the lips of the Greek...

Greek PM: Bank Recapitalization Successful, End of Grexit Scenarios

Greek Prime Minister Alexis Tsipras claimed that the Greek bank recapitalization was successful and cost much less than anticipated. Speaking in parliament, Tsipras said that the Greek bank recapitalization cost 5.5 billion euros while in the summer it was estimated...

ESM Releases 2.71 Bln Euros for Recapitalization of National Bank

The European Stability Mechanism (ESM) board of directors decided to release 2.71 billion euros to Greece to recapitalize the National Bank of Greece,  on Tuesday. This amount will be subtracted from the funds designated to cover potential resolution and recapitalization costs of...

Eurogroup Urges Greece to Swiftly Implement Bailout Prior Actions

Eurozone officials addressed the progress of the Greek bailout and its future, following a Eurogroup meeting in Brussels on Monday. Eurogroup President Jeroen Dijsslebloem noted that the design of the second stage of the bailout package had been agreed...

Former SYRIZA Minister Denounces Greek Bank Recapitalization

The recapitalization of the banks is probably the biggest robbery in Greece's history, Popular Unity leader Panagiotis Lafazanis said in an interview with Praktorio FM on Tuesday. The only solution for exiting the crisis is nationalising the banks and exiting...

European Commission Approves State Aid to Piraeus Bank

The European Commission approved on Sunday additional state aid of 2.72 billion euros to Piraeus Bank on the basis of an amended restructuring plan it submitted. “In the context of the third economic adjustment programme for Greece, the European Commission...

ESM Approves 2 Billion Euro Disbursment to Greece

The European Stability Mechanism's (ESM) Board of Directors authorized the disbursement of 2 billion euros to Greece, following the country’s completion of the first set of prior actions as demanded by creditors. In the ESM's announcement it is mentioned...

Greek President Pavlopoulos, PM Tsipras Agree on Need for Political Agreement on Matters of Strategic Importance

Greek President of the Republic Prokopis Pavlopoulos underlined the necessity of being united and giving the battle together on major issues and on national targets that do not depend on the changes of the government, at his meeting with...

Chairman of Greece's Biggest Bank Optimistic on Recapitalization

The Chairman of the National Bank of Greece (NBG), Louka Katseli expressed her confidence that the Greek bank recapitalization will successfully go ahead, while addressing the bank's stockholders on Tuesday. The European Central Bank's comprehensive assessment of Greece's four major banks, Alpha Bank,...