Greek banks brace for recapitalisation, with Piraeus initiating a bond swap offer

EconomyBanking Tags: Banking, Piraeus
Photo by MacroPolis
Photo by MacroPolis

Following meetings held with the Single Supervisory Mechanism (SSM) of the ECB in Frankfurt on Wednesday and Thursday, media reports indicate that Greek bankers appear more optimistic on the final outcome of the ongoing assessment noting that capital needs could be manageable.

The comprehensive assessment includes an Asset Quality Review (AQR) and a stress test under a baseline and an adverse scenario. Until now, very few details have been leaked and they mainly relate to the macro assumptions of the baseline scenario. These ...

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