Giorgos Chouliarakis rules out ‘bail-ins’

He says growth could occur in 2016

Caretaker Greek Finance Minister Giorgos Chouliarakis completely ruled out the possibility of a bail-in on Greek deposits, speaking in London. The interim Minister set 4 major goals for the Greek economy during his road-show in London before foreign investors. More specifically, he informed them that his objective for Greece was four-fold: to gain access to the markets; to successfully complete bank recapitalization; to relax achieve a relaxation on capital controls; and, finally to restructure Greek debt. Chouliarakis added that 2015 would be a recessionary year, albeit milder than initially forecast, but 2016 would see some growth for the Greek economy. Any real investor interest in the Greek economy will emerge only after the newly elected government implements the measures emanating from the 3rd memorandum and the first review by the institutions is completed.