Greek banks' capital backstop and the funding gap: An uneasy relationship

Economy Tags: Banking
Photo by Harry van Versendaal
Photo by Harry van Versendaal

The recapitalisation of Greek banks carried out in June 2013 put an end (at that time) to a long period of uncertainty regarding the bolstering of their capital base and ability to raise fresh money from private investors.

The three core banks (Alpha Bank, National Bank and Piraeus Bank) raised a total of 3.1 billion or 14 percent of capital needs from private investors, exceeding the 10 percent minimum private sector participation threshold, also preserving their private...

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