The government met its main targets, Ol. Gerovassili says

24 November 2015
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The government achieved its main targets during the negotiation, government spokeswoman Olga Gerovassili said after the approval for the disbursement of the 2 billion euro loan sub-tranche and the 10 billion euros earmarked for the recapitalization of the Greek banks.
Gerovassili also noted that they managed to protect the first residence from foreclosures and underlined the success of the recapitalization of Greek banks that puts an end to scenarios of a haircut on deposits.

“Following EG’s decision for the disbursement of the 10+2 billion euros, the first round of tough negotiations with the creditors closed successfully. The government has achieved its main targets within the framework of the negotiation,” she stressed.
“We managed to protect the first residence from foreclosures despite the first reactions of the creditors and maintained the debt settlement of 100 installments without any essential changes to the initial programme,” she added.

“The EG’s decision for the disbursement of the tranche follows the good course of the Greek economy after the recapitalisation of the Greek banks,” Gerovassili said adding that two systemic banks have managed to cover their capital needs from private investors.
The other two have covered their needs according to the baseline scenario and will need about 5.7 billion euros from the Hellenic Financial Stability Fund for the completion of the procedure.

“Greek deposits return to Greek banks after a long time,” government spokeswoman noted and stressed that the Greek government will continue to be working to the direction of the stabilisation and restart of the Greek economy taking into account the protection of the people’s interests and especially the low incomers.

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