FSF Cornered troika for “misplaced” decisions about Greek banks

The administration of Financial Stability Fund brought Thomsen, Masuch and Morse, to answer for the issue of banks especially after the leak from the IMF that the capital needs of Greek banks are estimated at 20 billion euros.

A few hours before troika’s meeting with the management of the Bank of Greece - 3 pm to 4.30 pm- the lenders' representatives met with FSF chief Anastasia Sakellariou.

Sakellariou opened a number of issues relating to Greek banks upon which the decisions of troika were demonstrably misplaced.

Among other things, she pointed out the procrastination and different decisions taken at a top level, which sometimes negate one another.

For example, she stressed the issue of the merger of the National Bank and Eurobank that subsequently was canceled and the delay in the privatization of Eurobank.

The iron lady of the Fund stood at the specific issue of Eurobank saying the share capital increase of the bank should not have been delayed, as the international and domestic conditions are volatile.

She also asked lenders to prove they have a different view regarding the capital needs of banks, which, based on an article of the Financial Times, some members of the IMF seem to have estimated at 20 billion euros.