NBG board to take initiatives to resolve management crisis

National Bank of Greece chief executive Leonidas Fragkiadakis has stressed to Kathimerini his determination to find a solution to the lender's management crisis, adding that the point is to reach consensus for the benefit of the bank. He adds that the lender has many challenges ahead of it and that it is crucial normality returns for work to resume.

Last week the administration crisis at the country's oldest bank regarding the election of a new president intensified, with comments by Deputy Prime Minister Yiannis Dragasakis about a "serious rift between the bank's board and [bank bailout fund] HFSF" putting the blame for the situation on the NBG board. Last Friday's statements by the government spokesman backing the Hellenic Financial Stability Fund were also seen as an implicit call for the resignation of new president Panayiotis Thomopoulos, and possibly Fragkiadakis too.<...