Banks recapitalization enter the final phase

2 November 2015
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Greece’s four systemic banks will have to finalise their plans on how to cover their capital needs after the ECB’s recent stress tests and the voting of the recapitalization plan in the Parliament.

Banks have a deadline until Friday, November 6 to send their plans and at the same time start a series of discussions and meetings with foreign investors that already participate in their portfolios as well as new ones.

The banks expressed their optimism that the private sector will cover their capital needs and the procedure will be successful.

Finance Minister Euclid Tsakalotos also expressed optimism that the recapitalization of the banks and the bad loans will have been completed by the end of the year.

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