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Greek banks to get recapitalization funds by Monday
by hlk Thu 24 May 2012, 20:49
ATHENS (Reuters): Greece's four largest banks will get an 18 billion euro capital injection by Friday or Monday, the country's central bank chief said.
"Funding of 18 billion euros will be disbursed tomorrow or on Monday to Greek banks, which is important in a period of great uncertainty," George Provopoulos said during a meeting with the country's president on Thursday.
Earlier this week, Greece's bank stability fund approved the recapitalization that will allow the banks to return to funding from the European Central Bank, which cut off some Greek lenders last week because they lacked enough capital to be considered solvent.
"Funding of 18 billion euros will be disbursed tomorrow or on Monday to Greek banks, which is important in a period of great uncertainty," George Provopoulos said during a meeting with the country's president on Thursday.
Earlier this week, Greece's bank stability fund approved the recapitalization that will allow the banks to return to funding from the European Central Bank, which cut off some Greek lenders last week because they lacked enough capital to be considered solvent.
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