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It is positive that Greek banks' capital needs are below €25B

02 November 15 | Juerg Weissgerber
Juerg Weissgerber

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ETAD.A.E.

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IBI Group

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Antulio Richetta

Director IBI Group
"The fact that the Greek banks recapitalization needs do not surpass 25 billion euros is positive," German Finance ministry spokesman Juerg Weissgerber said on Monday

 

adding that it is too early, however, to estimate whether the total Greek programme could be contained.

"We have to see first the plans of the Greek banks and then wait for the ECB's reaction," he noted.

"Banks can cover their needs with private funds," he said adding that their plans should be submitted by November 6.

"If they manage to do so, there is no need to be restructured based on European regulations."

"The next step is to present their plans based on the bad scenario by the end of the year.

We first have to wait for that," he underlined.

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