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Athens Macedonian News Agency: News in English, 14-07-20
CONTENTS
[01] ECB stress test results will be 'manageable', Stability Fund CEO
tells newspaper
[01] ECB stress test results will be 'manageable', Stability Fund CEO
tells newspaper
ANA-MPA -- The European Central Bank's stress tests of Greek banks will
not be a cause of concern, Hellenic Financial Stability Fund (HFSF)
CEO Anastasia Sakellariou said in an interview published on Sunday.
Speaking to Sunday Kathimerini, Sakellariou is quoted as saying,
"Even if some additional capital needs arise, I believe they will be
manageable...Following the increases, Greek banks are protected in terms
of capital and compare favourably with corresponding European banks."
Greek banks are in excellent shape at present, she said, and strong,
while she commented, "What happened in Greece has never happened anywhere
else in the world. We are not talking about recapitalisation of one or
two isolated banks, but of the entire banking sector. Banks in Greece
went from the private sector to a status of state funding and now we
are in the phase of transitioning again to private hands."
Sakellariou also hinted that the Fund can recover much more than the 16
billion euros the International Monetary Fund, one of Greece's creditors,
had foreseen in March 2012 from the bank support package of 50 billion
euros. According to her, the Fund has reserves of 11.5 billion euros -
a section of which can be used after the stress tests, if necessary -
while the current value of the Fund's shares in systemic banks is about
18 billion euros. "This is a level that can be significantly raised if
assessments for the country's positive path are confirmed," she explained.
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