July 13, 2015 / 7:15 PM / 4 years ago

Greek minister says bank recapitalization will safeguard deposits

ATHENS (Reuters) - A multi-billion euro recapitalization 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 recapitalize the stricken banking sector. “The recapitalization 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.

Reporting By Michele Kambas and Costas Pitas

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