The draft bill on the recapitalization of banks was submitted to Parliament on Friday.

Debate concerning bank recapitalization is expected to start in the afternoon and the plenary is expected to vote on the bill on Saturday night.

The bill “sets the context for the recapitalization of the country’s financial institutions. The relevant provisions of the law on the Financial Stability Fund are updated while new provisions are introduced aimed at strengthening the role of the Fund as a mechanism for the support of the Greek banking system.”.

According to the bill, the Fund will participate in the recapitalization of the banks over the coming months with significant funds and it is called on to manage to revive the economy in the best possible way.

The Fund is called on to have an increased role in the governance of banks, the management of which will be systematically assessed in order to ensure that the funds received from Greek taxpayers are used in the best possible way.