Divestment from banks earns Greece 3.5 bln euros

Greece determines the benefit of the state from its divestment from the systemic banks at 3.5 billion euros.

National Economy and Finance Minister Kostis Hatzidakis told a parliamentary committee on Monday that the government opted for the long-term benefit in stead of the short-term one, prioritizing "saving Greek deposits, as well as Greek businesses and households from a more comprehensive collapse and crisis."

Speaking to the Economic Affairs Committee in the Parliament, Hatzidakis responded to criticism of the opposition, according to which the divestment should not take place now, arguing that "we took advantage of the opportunities presented in the wider context," such as the favorable conditions.

He noted: "The divestment comes after the recovery of the investment grade, the high growth rates and the positive course of most of the main parameters of the...