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Greek banks preparing possible "bail-in" of depositors - FT
July 3, 2015 / 8:50 PM / in 2 years

Greek banks preparing possible "bail-in" of depositors - FT

ATHENS, July 3 (Reuters) - Greek banks are preparing contingency plans for a possible “haircut” on deposits amid fears of financial collapse, the Financial Times reported on Friday, ahead of a referendum that may decide the country’s future in the euro zone.

Greek leaders have repeatedly dismissed the possibility they will have to “bail-in” depositors to prevent the collapse of the banking system.

But citing bankers and businesspeople with knowledge of the measures, the Financial Times reported: “The plans, which call for a ‘haircut’ of at least 30 percent on deposits above 8,000 euros, sketch out an increasingly likely scenario for at least one bank”.

The report quoted a source as saying: “It (the haircut) would take place in the context of an overall restructuring of the bank sector once Greece is back in a bailout programme.”

Greek banking representatives were not immediately reachable to verify the report.

Writing by Matt Robinson; Editing by Alison Williams

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