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Athens Macedonian News Agency: News in English, 14-01-17

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] SYRIZA leader and Finance minister face off in parliament

  • [01] SYRIZA leader and Finance minister face off in parliament

    ANA-MPA - The government is reaching its end, main opposition (SYRIZA) party leader Alexis Tsipras said on Thursday in a discussion in parliament on banking scandals.

    Referring to reports that Finance Minister Yannis Stournaras is interested in the position of the Bank of Greece governor, Tsipras called on the government "to suspend all planning and action that binds the next government, which will be that of SYRIZA."

    "Slow down, Mr Tsipras," Stournaras replied, adding that "the government has a long way to go." Regarding reports on public debt, Stournaras repeated that Greece was paying 12 billion euro interest rates in 2012 compared to 6 billion euros in 2013, stressing that this was achieved through negotiations.

    "The Greek government with its systematic initiatives implemented a very ambitious recapitalization programme, which protects the country's banking system and protects Greek depositors," Stournaras noted.

    "Then, the Bank of Greece announced the capital needs of each bank and asked them to raise their own capital by the end of April 2013. The Financial Stability Fund allocated 25.5 billion euros - and not 40 billion euros, as you mentioned - to cover the capital increases of the four systemic banks, while the remaining capital was covered by domestic and foreign private investors," Stournaras added.

    An additional amount of 14.2 billion euros from the Financial Stability Fund was allocated to cover the financing gap resulting from the consolidation of non-systemic banks following a decision of the Bank of Greece.

    "After this coordinated effort, we are facing today a completely different situation," Stournaras concluded.

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