Draghi urges Greece to stick to bailout for bank recap, debt relief

European Central Bank Governor Mario Draghi urged Greece on Saturday to stick to its latest bailout to pave the way for bank recapitalization and talks on debt relief. In an interview with Sunday's edition of Kathimerini newspaper, Draghi said the second tranche of funds set aside for Greek banks' recapitalisation, worth 15 billion euros, would be disbursed after the first review by lenders and no later than November 15.
Greece's EU/IMF lenders have said the country's top four banks will need between 10-25 billion euros ($11-$28 bln) to shore up their capital base. Draghi said private sector participation in the recapitalisation was "desirable" to minimise the use of public money.