Comments just out on Bloomberg to the relief of many I'm sure
- net inflows of €1bln
- Greece said to target bank re-capitalization by mid -December
- Greek banks' stress tests to be completed by end-Oct
- Greek depositors will not be bailed in or a levy imposed
- existing shareholders have expressed an interest in participating in capital injections, details currently being decided
- if no private shareholders participate the recap process to be completed by end-Nov
- capital controls will be lifted by year-end after completion of bank recap
Greek central bank official who asked to remain anonymous with the comments, and a reminder that bailout talks are on-going while this summer lull continues
- Greek govt targets completion of negotiations with creditors on new bailout by Aug 18
Don't hold your breath
