All deposits up to 100,000 euros fully guaranteed by the Eurosystem
- Written by E.Tsiliopoulos
"The Eurosystem operates from January 1, 2015 under a European community directive which guarantees all bank deposits up to 100,000 euros per depositor for each account", Louka Katseli, president of Hellenic Bank Association said on Thursday.
Katseli, also chairman of National Bank, in comments made to television, said that supervisory authorities and particularly the European Central Bank and the European Stability Mechanism, "guarantee the stability and solvency of each bank operating in Greece. The same thing happened in previous years, we are constantly under the supervision and control of the ECB". Katseli reassured that Greek banks' liquidity is safeguarded and noted that in the case that an agreement was reached with the partners, preparatory work has been done "so that from Tuesday we will be able to offer more bank services and gradually all bank operations to return to normal conditions the soonest possible". She added that whether this process "will take two, or three or little longer is a technical issue". Katseli stressed that "with an agreement, the ECB will begin offering new liquidity to the Greek banking system".