At the press conference that followed the Ecofin, Minister of Finances Yannis Stournaras explained that the 11 billion euros that are still available with the FSF would only be used towards reducing the debt if the banks are to be recapitalized with private funds.
Mr. Stournaras also reported that he plans on supporting small and medium-sized businesses (SMEs), without imposing a funding policy on banks that may stifle growth.
Additionally, Mr. Stournaras revealed that the IMF would not be participating in the Single Supervisor Mechanism (SSM) for banks, as it only participates in countries that have a bailout program.
When asked whether he would be appointed governor of the Bank of Greece, Mr. Stournaras responded that he has not discussed such a possibility with the Prime Minister, who has the authority to make such a decision.
