Reuters reporting news that the European Bank of Reconstruction and Development will be chipping in
- fin ministry says contingent convertible bonds that Greek banks will issue as part of the recap will have a 8-10% coupon
That should bring a few vultures to the carcass
Says the fin ministry spokesman:
"The aim of the govt in the recapitalisation programme is two-fold. To attract foreign investment via the private sector's participation and for the state to have a significant stake in the banks so that it can increase its gains from a possible growth"
