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Tag Archives: recapitalization

Project Hercules: Gov’t to help Greek banks with €9billion

September 23, 2019 Economy 1

Greece plans to provide as much as 9 billion euros in state guarantees to help its banks reduce a mountain of soured debt weighing on their balance sheets, Bloomberg and Handelsblatt report. The money will be given from the “buffer” of nearly 40 billion euros from taxpayers money. Greek banks …

Greece’s gov’t spokesman: “There is no banks recapitalization scenario”

February 11, 2019 Economy Comments Off on Greece’s gov’t spokesman: “There is no banks recapitalization scenario”

Greek Government spokesman Dimitris Tzanakopoulos dismissed alleged leaks to the press over the banks’ capital adequacy as “journalistic distortion and scaremongering”. In an interview with 24/7 FM on Monday, Tzanakopoulos said “These leaks did not start from any statements by (government vice-president Yiannis) Dragasakis. These are a figment of some …

The IMF should stop torturing Greece and write off its debt, says investment manager

September 19, 2017 Economy 3

“The International Monetary Fund should stop torturing Greece. The IMF could write off its debt, lighten Greece’ burden and do not demand another bank recapitalization.” This is the general idea of an opinion article posted at Bloomberg and written by Kyle Bass chief investment officer at hedge fund Hayman Capital …

Deutsche Bank Chief demands €150bn from taxpayers to recapitalize EU’s banks

October 29, 2016 Economy 7

Europe is seriously ill – Deutsche Bank demands £133BILLION slush fund from EU taxpayers – Troubled Deutsche Bank has demanded the EU set aside a huge slush fund to save the continent’s financial system from collapse. The news comes after British CEO John Cryan today warned of rapid restructuring as …

Bank of Greece “sees” political consensus on creditors’ agreement when opposition down votes Austerity bills

December 4, 2015 Economy 1

The Bank of Greece released its Monetary Policy interim report 2015. Although the detailed analysis is 159 pages long, the essence can be summarized in one sentence: Greece must apply the Agreement with the creditors in full detail. Stressing that “recapitalisation of the four significant Greek banks has been successfully …

Let the Recap begin! ESM releases €2.72bn for Piraeus Bank

December 1, 2015 Economy Comments Off on Let the Recap begin! ESM releases €2.72bn for Piraeus Bank

The Board of Directors of the ESM decided today to release €2.72 billion to Greece to recapitalise Piraeus Bank. This amount will be subtracted from the €10 billion held in a segregated account at the ESM and designated to cover the Greek banking sector’s potential resolution and recapitalisation costs, part …

Greece’s banks stress tests: ECB finds total capital shortfall is €14.4 billion

October 31, 2015 Economy Comments Off on Greece’s banks stress tests: ECB finds total capital shortfall is €14.4 billion

The European Central Bank announced today the results of stress tests for the four Greek systemic banks National Bank of Greece, Piraeus Bank, Alpha Bank and Eurobank. The ECB has found that the total capital shortfall of the four systemic banks is 14.4 billion euro which is much lower than …

Greece’s banks recapitalization allegedly to cost €14bn and not €25bn

October 30, 2015 Economy 1

The amount of capital requirement for the recapitalization of Greece’s four systemic banks may fall much lower than estimated a couple of months ago. “The amount could be 14 billion euro,” Greek media report noting that “this creates optimism in the government and the Greek bankers that the recapitalization will …

Greece to lift capital controls for those who bring money back to banks

September 10, 2015 Economy Comments Off on Greece to lift capital controls for those who bring money back to banks

The Greek authorities will try everything to get back to the banks what depositors withdrew before the capital controls were imposed on June 29th 2015. The financial ministry and its high-ranking state officials and interim government ministers are determined and will try everything to get the money back to the …

BoG on recapitalization: Greek banks will need capital up to 6.4 bln euros

March 6, 2014 Economy 1

Greek banks will need additional capital of 6.382 billion euro, Bank of Greece said on Thursday. specifically, Eurobank will need €2.845 billion, National Bank of Greece €2.183 billion, Piraeus Bank €425 million, Alpha Bank €262 million, Attica Bank €397 million and €Panellinia Bank 169 million. “The additional capital requirements of …

Greece’s Banks Recapitalization to be Completed By April 2013

October 16, 2012 Economy Comments Off on Greece’s Banks Recapitalization to be Completed By April 2013

Recapitalization of Greece’s banks will need to be completed by end of April 2013. According to TA NEA newspaper, Finance Minister Yiannis Stournaras and Deputy Finance Minister Christos Staikouras discussed with the Troika on Sunday evening the terms and the time-table for the recapitalization of the viable Greek banks. It …