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Athens News Agency: News in English, 08-10-06

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <>


  • [01] Alavanos on savings deposits

  • [01] Alavanos on savings deposits

    The head of the Coalition of the Radical Left (SYRIZA) Parliamentary group Alekos Alavanos on Monday said the government should immediately pass legislation that would ensure a state guarantee of retail savings deposits in Greek banks, while scrapping a 2000 law that placed an upper limit of 20,000 euros on the amount of savings guaranteed.

    "This is the only way that people can feel some security and the state can regain its regulatory role over the banking sector," Alavanos said during an Athens book launch, referring to a statement on this issue made by Prime Minister Costas Karamanlis in his address to ruling New Democracy's Parliamentary group earlier the same day.

    Referring to promises made by Karamanlis, who stressed that Greek banks were robust and that the government would be able to guarantee people's savings, he pointed out that the prime minister would not be in office forever and that the guarantor of saving deposits under the current law in Greece was not the state but a bank-sector "Deposits Guarantee" Fund that only covered up to 20,000 euros in savings.

    Athens News Agency: News in English Directory - Previous Article - Next Article
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