EU Update
Connect Sign in with Twitter
Home > Newsroom > New Europe TV > Video: Papandreou reveals future for Greek banks

Video: Papandreou reveals future for Greek banks

Article |

Greek Prime Minister George Papandreou gave an insight into the future of Greece's banks following the European Council session on 26 Ocotber. In a press conference that was mainly delivered in Greek, Papandreou explained the possible impacts of the Summit's decisions on Greek banks saying they will be supported by the EU.


He underlined that support will ensure both liquidity and recapitalisation of the banks which will suffer loses due to the haircut of the Greek debt. He added that the sustainability of banks will be tested again and that they would be reorganised to be viable in these times of crisis.

Prime Minister added that if necessary some banks might be temporarily nationalised and returned to markets when solidified, following the Swedish method used in 1990s.

#TAGGED

CDATA,
European Union,
George Papandreou,
Greece,
Greece,
Papandreou,
Person Career,
Politics,
Politics of Greece,
Prime Minister,

More in Newsroom

1 of 2
Telecom tax passed by Hungarian parliament
Nationalist candidate wins elections in Serbia [BREAKING]
EU blunder could determine elections in Serbia
Progress report on EU animal welfare and care
Turkey, Qatar to construct a €750 million road to EU through Bulgaria
Gay is okay in Malawi?
Europe must develop common economic positions faster
Sea Shepherd Conservation Society calls out for help to save its captain
Mladenov satisfied with the appointment of Sterk EU ambassador to Uzbekistan
Moody's downgrades Spain
We welcome your comments on New Europe's articles and posts. It is our hope that you will use this forum to interact with other readers around the world. In order to keep this experience interesting, we ask you to follow the rules outlined in the terms and conditions.
By submitting comments, you are consenting to these terms and conditions. While NEW EUROPE encourages discussion on all subjects, including sensitive ones, the comments posted are solely the views of those submitting them. NEW EUROPE does not necessarily endorse or agree with the ideas, views, or opinions voiced in these comments.
NEW EUROPE welcomes constructive discussion but discourages the use of copy-pasted materials, unaccompanied links and one-line slogans. This is a moderated forum.Comments deemed abusive, offensive, or those containing profanity may be edited or not be published.