Sal­las op­ti­mistic pri­vate funds can meet short­fall

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Pi­raeus Bank chair­man Michalis Sal­las said on Sun­day he was op­ti­mistic the bank could rely on pri­vate in­vestors to meet any cap­i­tal short­fall found in base­line sce­nario stress tests be­ing con­ducted by the Euro­pean Cen­tral Bank. Sal­las said “strong in­ter­est” had been shown by in­ter­na­tional in­sti­tu­tional in­vestors in any cap­i­tal in­crease. “Based on this in­ter­est there is valid op­ti­mism that the re­quired par­tic­i­pa­tion of the pri­vate sec­tor will more than cover any cap­i­tal needs which man­i­fest on the base­line sce­nario of the stress test,” he was quoted as say­ing in a news re­lease by the bank. Pi­raeus Bank is one of four Greek banks in line for re­cap­i­tal­iza­tion un­der the terms of an 86-bil­lion-euro bailout that Greece has signed up to with in­ter­na­tional lenders. Bank­ing sources say the banks’ re­cap­i­tal­iza­tion needs are less than 20 bil­lion eu­ros. The

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