Eurogroup: No hair­cut on de­posits

Kathimerini English - - Front Page -

The pres­i­dent of the Hel­lenic Bank As­so­ci­a­tion, Louka Kasteli, has called the Eurogroup’s de­ci­sion guar­an­tee­ing Greek sav­ings and for there to be no hair­cut on de­posits a sig­nif­i­cant step for de­pos­i­tors to re­gain trust in the coun­try’s bank­ing sys­tem.

In com­ments made to Greece’s Athens-Macedonian News Agency, Kasteli said: “The de­ci­sion of the Eurogroup for there to be no hair­cut on de­posits, re­gard­less of size, as well as the im­me­di­ate avail­abil­ity of 10 bil­lion eu­ros for the re­cap­i­tal­iza­tion of Greek banks are im­por­tant steps in re­build­ing trust in the Greek bank­ing sys­tem. Now it is the turn of Greek cit­i­zens to show their prac­ti­cal sup­port for the bank­ing sys­tem.”

Euro­pean Com­mis­sion spokesper­son An­nika Brei­dthardt con­firmed the Eurogroup’s de­ci­sion to ear­mark a to­tal of 25 bil­lion eu­ros for the re­cap­i­tal­iza­tion of Greek banks, sub­ject to stress tests.

She also con­firmed that the de­posits of Greek savers were guar­an­teed in light of the Eurogroup’s de­ci­sion, em­pha­siz­ing that there would be no hair­cut on de­posits un­der any cir­cum­stances for the full du­ra­tion of the bailout pro­gram.

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