Greek Debt Crisis 2015
Greek minister says bank recapitalisation will safeguard deposits
A multi-billion euro recapitalisation of Greece's banks will help protect savers' deposits, Greek Economy Minister George Stathakis said on Monday, after Athens agreed a deal that could lead to a fresh bailout from international creditors.
Stathakis said the bailout would include 25 billion euros ($27.50 billion) to recapitalise the stricken banking sector. "The recapitalisation is so secure that it fully safeguards deposits," he said on public broadcaster ERT.
Greece enters its third week with banks closed and most Greeks are limited to ATM withdrawals of 60 euros per day. There have also been widespread fears that the government could impose a levy on bank deposits although ministers have repeatedly denied this. (1 US dollar = 0.9088 euro) ($1 = 0.9090 euros) (Reporting By Michele Kambas and Costas Pitas)
SYDNEY (Reuters) -Australia defended its scrapping of a deal for French submarines on Sunday, saying the government had raised concerns to Paris for months, as a new deal with the United States and Britain continued to fuel a multinational diplomatic crisis.