Government wants co-op banks in recap process
Greece wants small cooperative banks that lend to small firms to also be recapitalized alongside bigger banks, the country’s finance minister said yesterday as regulators begin preparations to assess the capital needs of Greece’s battered lenders. “The government’s intention is to strengthen the cooperative banks,” Euclid Tsakalotos said in a statement. “With this aim, the government’s proposals include the cooperative banks in the recapitaliza-
Sales drop. Supermarkets saw sales slide 2 percent on an annual basis in the first half of the year, as from March onward their growth trajectory peaked and sales volumes started to fall. There was even a drop in June, despite the surge recorded after June 26 when the referendum was announced, according to market researchers IRI.