HFSF to grind to a halt un­less law changes

Kathimerini English - - Focus - YIAN­NIS PAPADOYIANNIS

The HFSF bank bailout fund may be forced to roll down its shut­ters to­mor­row due to the ad­min­is­tra­tive cri­sis that has been dog­ging it since last sum­mer.

Ac­cord­ing to ex­ist­ing leg­is­la­tion, if the po­si­tion of Hel­lenic Fi­nan­cial Sta­bil­ity Fund chief ex­ec­u­tive of­fi­cer re­mains va­cant for three months, its Ex­ec­u­tive Com­mit­tee most be dis­solved and the fund can­not make any de­ci­sions, even for the mi­nor is- sues such as the pay­ment of staff or rent.

To­mor­row it will be three months since the de­par­ture of the fund’s CEO, and as his suc­ces­sor has not yet been ap­pointed, the Ex­ec­u­tive Com­mit­tee will have to cease op­er­a­tions. The gov­ern­ment has been in­formed of the prob­lem and sources say it has pre­pared a leg­isla­tive in­ter­ven­tion re­gard­ing the is­sue that will grant an ex­ten­sion to the three-month pe­riod. The in­ter­ven­tion is set to be voted on in Par­lia­ment to­mor­row.

The choice of Vas­silis Kat­siki­o­tis as new CEO was pub­lished in the Gov­ern­ment Gazette but was never im­ple­mented as the ap­pointee im­me­di­ately re­signed. A new se­lec­tion process fol­lowed but none of the 75 can­di­dates who ex­pressed an in­ter­est was se­lected.

Newspapers in English

Newspapers from Greece

© PressReader. All rights reserved.