Banks and households will be the last Papademos acts
Banks and households will be the last Papademos acts
Within the week, PM Lucas Papademos will hold two cabinet meetings in order to arrange matters concerning banks and households....
UPD:
Within
the week, PM Lucas Papademos will hold two cabinet meetings in order to
arrange matters concerning banks and households. Thus ends the
government's work that began in November 2011, to complete the bond
exchange program which led to the haircut of the Greek debt.
The recapitalization of banks is one of the last issues of the Papademos government. The cabinet will probably convene on Wednesday to approve the bill. Last week they met and approved the legislative act.
Following the approval, Greece may "accept the 25 billion euros of the first tranche of the recapitalization of banks," said Finance minister Philippos Sachinidis.
Banks have received an extension until this coming Friday to publish their 2011 financial results.
The second cabinet will discuss the favorable regulations for the indebted households by Labour minister George Koutroumanis. They were included in the bill for development, but after the Troika reaction they were withdrawn. Eventually, after consultation, Koutroumanis announced they will be approved and implemented.
Among others, they relate to the establishment of "unseizability" for bank accounts of up to 2,000 euros and the integration of traders in judicial settlements of bank debts.
UPD:
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