Provopoulos Underlines That Greek Deposits Are “Fully Protected"

Main building of the bank of Greece. (credit: Wikipedia)

All bank deposits in Greece are fully protected regardless of amount, central bank head George Provopoulos said on Wednesday morning. He told Parliament that the country΄s bank recapitalisation scheme and continued deposit inflows are going to help Greece pull itself out of a deep recession. He also noted that he was optimistic that Greek lenders Alpha Bank and Piraeus Bank would be able to raise enough capital from investors to remain in private hands after their planned recapitalization.