BoG: The capital needs of banks stand at 5.5 billion euros - We will not enter into political games

The Bank of Greece (BoG) will not enter into political negotiations and the 5.5 billion euros it handed as a figure for the capital needs of banks last week are the result of its final report carried out by BlackRock and certified by Rothchild and Ernst & Young. This is the position of the BoG regarding today's article of the FT stating that the capital needs of banks could reach 20 billion euros.

Meanwhile the course of bank shares shows that the market has not paid much attention to the relevant publication as losses are minimal or stable.

According to banking circles, these reports reflect general pressures from IMF in order to exhaust FSF funds and lift any argument for their ancillary use to cover the fiscal gap for 2014-2016. The economic team has ruled out such an eventuality, while BoG is clear that these stocks will be used if necessary for needs arising from the European stress tests that will follow.

As recorded by Newmoney.gr there were intense background consultations in the assessment of capital needs of banks and for a while now the IMF has exerted pressure to display these needs as increased. Interpretations given in this direction have to do with the fact that IMF presses in general both the EU and ECB to accept its own positions on the Greek program. All sides await further developments after the troika assessment.