Legend To the President, the General Council, and the Executive Committee of the Financial Stability Fund, submitted by president of SYRIZA-PS, Alexis Tsipras, expressing «the official opposition’s positions regarding the decision that has already been made public,», to reduce their shareholding as «the holder of the majority of Piraeus Bank’s shares directly”, on April 7, 2021, at the convening of the Extraordinary General Meeting.».
«While certainly taking into account the importance of financial stability in the country, our position is that the HFSF, both during the first phase—when Piraeus Bank failed to repay the interest installment—and during the second phase of the Bank’s planned capital increase, It does not make full use of its legal rights and negotiating leverage to protect the state’s capital and assets, thereby minimizing the risks to Greek citizens.
Therefore, »In this case, and by your own decision, the Fund ceased to fulfill its fundamental role as a guarantor of the public interest in the financial sector.", Alexis Tsipras emphasizes in the conclusions of the memorandum and calls on the interested parties to exercise «at the General Meeting on April 7, 2021, the right provided for by law blocking veto »of the majority shareholder« and to prevent »the abolition of existing shareholders« preemptive rights.» “Instead, ensure that, in the event of a capital increase, existing shareholders are able, within a reasonable timeframe, to exercise the preemptive rights corresponding to their shares, with all the powers and privileges arising therefrom,” he adds.
