The President of the Supervisory Council at the European Central Bank Danièle Nouy underlined the need for the recapitalization of Greece’s four systemic banks to finish by the end of 2015, in an interview for Ta Nea.
According to Mrs. Nouy, the recapitalization process must conclude by the end of the year in order to avoid the prospect of a haircut of Greek deposits.
The ECB’s Supervisory Council head added that there was more than enough time and that the 25 billion euros provided in the bailout agreement for the recapitalization is more than enough to cover the 14.4 billion euros that are deemed necessary, based on the recent stress test results.
