Greece’s Return to Market Eased by Banks, Provopoulo Says
April 9 (Bloomberg) -- Greek lenders’ success last month in raising funds from foreign investors shows the government can reach its goal of returning to bond markets, George Provopoulos, Bank of Greece’s Governor, says in interview.
* NOTE: Piraeus Bank SA, Alpha Bank AE last month raised
nearly EU3b to plug capital shortfall Bank of Greece
identified in stress test * Successful restructuring of banking system, recapitalization
of banks from the market after stress-test exercise have
paved the way for Greek government to tap the market:
Provopoulos * ECB funding will be further reduced as Greek banks continue
to regain access to markets * Banks should now help shift economy toward production of
tradable goods, which will boost net exports, help generate
sustainable growth * “We are reflecting on the design of a quantitative-easing
program in the euro area,” says Provopoulos
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