Greek banks on strike

The Bank Union has decided to ask the implementation of a new policy for these institutions, in the new conditions created after the debt crisis. As the main pillar of the economy that is connected directly with the future of Greece in Eurozone, the banks demand that this policy must have the reinforcement of the real economy and the development, the social support of consumers, the creation of the conditions for keeping the jobs, wages and pensions of the people employed in the banking sector.

The also demand that the recapitalization of the banks should be made directly for all financial institution, private and state owned ones. After exchanging the treasury bonds and the reduction of the debt with more than 100 billion EUR, the Greek banks have lost a considerable part of their capital. The fear of returning to drachmas has made many clients to withdraw their savings, a total of 84 billion EUR in two years, by paralyzing this way their activity.

However, after the elections of June 17th, at least 10 billion EUR have returned in the first two weeks, same as the sum that has been withdrawn, since the current political and economic situation does not generate reliability to the Greek clients.

The first spark of the restructuring of the banking system in the country is considered the sale of a part of the Agrarian Bank ATE to the Bank of Pyreus, and of the French Credit Agricole, which are waiting recapitalization and then to find as buyers one of the three big banks in the country, the Greek National Bank, Eurobank or Alpha Bank.

In the efforts to collect the money deposited abroad, the Greek government is expected to give a fiscal amnesty with a 10% tax for everyone that has not declared the revenues or real estates, otherwise in 2013 they will be charged with 45%.

Top Channel