Dragasakis Seeks Assistance of Banks to Reboot Economy

Government Vice President Yannis Dragasakis met with the Piraeus Bank’s president Michalis Sallas on Monday to discuss the growth prospects of the Greek economy and how the domestic banking system may contribute in rebooting it. According to a report in the To Vima newspaper, the bank is preparing a plan for the reconstruction of business sectors and to strengthen production.

It should be noted that similar plans are being drafted by the another three systemic banks (namely: Alpha Bank, Eurobank and the National Bank of Greece). The National Bank has already announced that it is going to adopt some changes, which are going to be made public over the next few days.

Dragasakis said that any changes to the banks are going to be made after consultation and without harming the interests of private shareholders.

Eurobank’s management recently changed, illustrating the government’s intentions, with Nikos Karamouzis replacing Takis Thomopoulos as President and Fokion Karavias replacing Christos Megalos as CEO, after consultation with the banks’ private shareholders and Fairfax chief Prem Watsa.