In the Media | November 2015

Recapitalization of Battered Greek Banks Entering Critical Phase, New Levy Economics Institute Report Says, November 12, 2015. All Rights Reserved.

The battered Greek banks will soon face yet another round of recapitalization this November and December. For the banks to have any prospect of returning to their precrisis role as liquidity providers to the Greek economy, it is imperative that the country’s EU creditors and supervisors avoid the pitfalls of previous recapitalizations, argues a new report from the Levy Economics Institute of Bard College. In their Policy Note What Should Be Done with Greek Banks to Help the Country Return to a Path of Growth? Emilios Avgouleas, professor and chair of international banking law and finance at the University of Edinburgh School of Law, and Levy Institute President Dimitri B. Papadimitriou stress that the recapitalization of Greek banks—perhaps the central issue for the Greek state today—has entered its most critical stage.... 

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