Breaking News

Citigroup Profit Falls 96% on Costs to End Mortgage-Bond Probe

Papademos Says Supporting Greek Businesses Is a Top Priority

Supporting businesses after five years of recession is a top priority for Greece, Prime Minister Lucas Papademos said.

“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

To contact the editor responsible for this story: Tom Stoukas at

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.