Greece solvent until mid-November - finance minister: Voice of Russia

Greece can fulfil its financial obligations until the middle of November, Finance Minister Evangelos Venizelos declared on Tuesday.

He said that the country?s banking system is fully protected and deposits are insured against possible calamities. ?There is no depositor so well protected as the European, and especially, Greek depositor?, Venizelos said.

Meanwhile, Greek banks are bearing heavy losses due to the country?s GDP fall and the growth of ?bad? loans.

Apart from that, the finance ministers of euro zone countries have postponed the decision to allocate the next instalment ?of the 8bln euro loan to Greece.

(RIAN)

Source: http://english.ruvr.ru/2011/10/04/58160419.html

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