J.Weissgerber: Greek banks recapitalization needs below 25 bln euros is positive

2 November 2015
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“The fact that the Greek banks recapitalization needs do not surpass 25 billion euros is positive,” German Finance ministry spokesman Juerg Weissgerber said on Monday adding that it is too early, however, to estimate whether the total Greek programme could be contained.

“We have to see first the plans of the Greek banks and then wait for the ECB’s reaction,” he noted.
“Banks can cover their needs with private funds,” he said adding that their plans should be submitted by November 6. “If they manage to do so, there is no need to be restructured based on European regulations.”

“The next step is to present their plans based on the bad scenario by the end of the year. We first have to wait for that,” he underlined.

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