The Greek Parliament adopted a law on Bank recapitalization

The Greek Parliament adopted a law on Bank recapitalization


Voted for most factions, including the opposition, opposed by only a faction of far-right party Golden dawn and the KKE.

ATHENS, 31 Oct. Gennady Melnik. The Greek Parliament on Saturday evening voted for a bill to recapitalize banks.

Voted for most factions, including the opposition, opposed by only a faction of far-right party Golden dawn and the KKE.

The opposition, despite disagreements with the government, agreed with the need to ensure Bank deposits.

The recapitalization will be completed before January 1, 2016, as now the safety of small deposits not guaranteed — with the new year in Greece will operate the banking Directive on the protection of deposits to 100 thousand euros.

The law on recapitalization, according to the government, will avoid the mistakes of the past and improve the situation in the banks. Recent recapitalization of Greek banks cost the state 40 billion euros.

On Saturday the ECB published stress tests of the four major systemic banks in Greece — National bank of Greece, Piraeus bank, Alpha bank and Eurobank.

In the baseline scenario of the stress tests show capital deficit of 4.4 billion euros in the four systemic banks. On “adverse” scenario, the deficit is 14.4 billion euros.

National bank of Greece was required 4.6 billion euros, Piraeus bank — 4,93 billion euros, Alpha bank — 2.74 billion, Eurobank — – 2,12 billion euros.

By the third aid programme of the 86 billion euros of loans to recapitalize banks provided € 25 billion.