Re­cap­i­tal­iz­ing the banks

Kathimerini English - - Front Page -

Greece must get mov­ing with plans for the fur­ther re­cap­i­tal­iza­tion of lo­cal banks and refuse to al­low the is­sue to be­come the sub­ject of par­ti­san con­fronta­tions. In the case of Eurobank, there is clear in­vest­ment in­ter­est as long as leg­is­la­tion is ap­proved that will en­able the mem­bers of the Hel­lenic Fi­nan­cial Sta­bil­ity Fund to give their own ap­proval. Should the leg­is­la­tion be voted down in Par­lia­ment and the in­vest­ment fall through, the coun­try will ef­fec­tively have squan­dered a rare op­por­tu­nity to at­tract fresh funds, which it so des­per­ately needs. In fact, fail­ure to pass the leg­is­la­tion could desta­bi­lize the do­mes­tic bank­ing sys­tem once more. All sides should bear in mind that in the past the po­lit­i­cal op­po­si­tion was on a num­ber of oc­ca­sions wrong to cry foul about deals that turned out to be very ben­e­fi­cial for the coun­try.

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