Greek Rescue Bank CEO Resigns

The deputy chief executive at Greece’s bank rescue fund, the vehicle in charge of recapitalizing the country’s top lenders, resigned on Tuesday, the second senior executive to leave the fund in the last three months.

The resignation of Deputy CEO Marios Koliopoulos from the Hellenic Financial Stability Fund (HFSF) follows the departure of the fund’s Dutch chairman Paul Koster in March, who stepped down, citing personal reasons.

Funded with 50 billion euros ($64 billion) from the country’s European Union/International Monetary Fund bailout, the HFSF was set up to recapitalize Greece’s major banks and cover the cost of winding down others deemed non-viable.

“Mr. Koliopoulos resigned over a disagreement on legal procedures,” said a senior HFSF executive, who declined to be named due to the sensitivity of the issue.

via Reuters

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza