Greek banks have 3 months to present reorganization plans
12:59, 31 May 2012
ATHENS. May 31. KAZINFORM The 4 main Greek banks, beneficiaries of 18 billion to recapitalize, have 3 months to present reorganization plans, according to Italy's AGI.
The plans must specify how the fonds received from the EFSF will be used. The announcement came from the vice-president of the Hellenic Financial Stability Fund, Anastassios Gagalis, referring to the four institutes involved, National Bank, Piraeus Bank, Eurobank and Alpha.
Recapitalization will allow the banks to finance themselves again through the ECB, after the Eurotower was forced to exclude them from normal liquidity operations ten days ago.