The results of the European Central Bank’s stress tests of Greek banks will be manageable, Hellenic Financial Stability Fund (HFSF) CEO Anastasia Sakellariou said in an interview to the Sunday version of Kathimerini newspaper.
Sakellariou noted that, “even if additional capital needs arise, I believe they will be manageable. Following the increases, the Greek banks are protected in terms of capital and compare favorably with similar European banks.”
The CEO of the Hellenic Financial Stability Fund underlined that Greek banks are currently in excellent shape and strong in terms of capital. She also said that “what happened in Greece is unprecedented. We are not talking about recapitalisation of one or two isolated banks, but of the entire banking sector. The banks in Greece went from the private sector to a status of state funding and we are currently in the phase of transitioning back to private hands.”
Mrs. Sakellariou hinted that the Fund can recover much more than the 16 billion euros the International Monetary Fund had foreseen in March 2012 from the bank support package of 50 billion euros.