Lawmakers vote in favor of draft bill for bank recapitalization

31 October 2015
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MPs from all parties except the Greek Communist Party and Union of Centrists voted in favor of the bill so as to save depositors money

The bill on the recapitalization of Greek banks was voted in Greek Parliament through fast-track procedures on Saturday. The Radical Left Coalition (SYRIZA) government, its junior coalition partner Independent Greeks (ANEL), and opposition parties put aside their partison differences and agreed on the need to secure bank deposits. All parties apart from the Union of Centrists and Greek Communist Party voted for the bill in principle.

The main opposition New Democracy Party voted for the bill in principle while expressing reservations via Christos Staikouras. The conservatives point to the first clause of the new bill that gives greater power to the institutions concerning the make-up of the Credit Stability Fund. “More than was given in the past, endangering the de-Hellenization of banks,” he said.

On his part, Yiannis Maniatis stated that the Democratic Coalition voted “present” to article 4 as an amendent for the Credit Stability Fund’s monitoring via Greek Parliament was nt accepted. Centrist To potami was opposed to article 20 as it offers no welfare to small bonds holders.

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