Greek Finance Minister Euclid Tsakalotos met with Bank of Greece (BoG) Governor Yannis Stournaras at the Finance Ministry Friday. The two men discussed the pressing issue of the timetable for the recapitalization of Greek banks, a matter which is at the heart of negotiations with the institutions currently in Athens. According to sources, the first stage of the bank ‘stress tests’ is already under way, with the process expected to be complete by the end of October. Bank of Greece high ranking officials have reportedly said that the top priority at the moment is for the recapitalization to take place via the Financial Stability Fund-and not through loans out of the new ESM bailout plan- and finish by the end of 2015. The reason for opting for a refunding of the banks through the Stability Fund, as they explained is that it will rule out the possibility of a bail-in, whereas if the ESM covered the banks that risk would be open. Furthermore, if the recapitalization took place in 2016 this leave then depositors and bond holders would suffer a bail-in in accordance with the new European directive on the matter.