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Attica governor confirms that she'll deposit region's reserves … in BoG

80 million euros to be deposited in a single account in the Bank of Greece

Newsroom March 27 01:09

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Attica governor Rena Dourou confirmed on Friday that all of the region’s cash reserves will be taken out of private banks and funnelled into a single BoG account, a decision taken by majority vote in a regional council this week.

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Only Dourou’s grouping, which holds an absolute majority, voted in favor of the decision, raising a firestorm of protest by other councillors.

Dourou, a top leftist SYRIZA cadre, announced the decision amid worrying reports that the Greek government, led by a SYRIZA majority, is facing a looming cash crunch as it has failed to achieve, as yet, a coveted loan agreement extension. By putting the reserves into a Bank of Greece account, the central government acquires additional liquidity.

The Attica region’s reserves are in excess of 300 million euros, some 80 million will be in the specific account.

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