Greece: Government approves 18 Billion EUR to 4 commercial banks

The Greek Council of Ministers approved today the transfer of 18 Bn EUR to support 4 large commercial banks in Greece. Moneys come from the Financial Stability Fund.  This is an intermediate action before the planned full recapitalisation of the bank sector, planned to be completed by the end of the year. The actual  payment will be done after a final decision next week during the last meeting of the Council of Ministers on 2nd May, only 4 days before the elections.