“The government is trying to do everything possible to make sure that financial resources reach the real economy,” Papademos said at a conference in Athens today.
The country’s banks need to play an active role and take responsibility for making the economy move, he said.
The recapitalization of Greece’s banks is a “prerequisite” for this to happen and the European Financial Stability Fund yesterday sent 25 billion euros towards the recapitalization which is half of the whole amount that is going to be needed, Papademos said.
To contact the reporter on this story: Eleni Chrepa in Athens at email@example.com
To contact the editor responsible for this story: Tom Stoukas at firstname.lastname@example.org