Hercules program is heading for expansion
The issues of the Hellenic Financial Stability Fund's divestment from Greek banks and the expansion of the Hercules program were at the center of the meeting held this week by Minister of National Economy Kostis Hatzidakis with the Hellenic Bank Association.
The new Hercules program will include three pending securitizations amounting to 3 billion euros.
These are Ethniki's Frontier II portfolio, worth €1 billion, Piraeus' Sunrise III, worth €500 million, and the common Solar portfolio of the four banks worth €1.5 billion, while also on the way there are bad loans adding up to €3 billion from Attica Bank and Pancreta Bank, whose securitization will be sought through state guarantee.
Regarding the issue of HFSF's disinvestment from the banks, up first will be Eurobank and the consideration of the bank's proposal to purchase the shares held by the fund, which...
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