And once again we hear about preparations for the bank recap - of course nothing will be spelled out until after May 6th.

http://www.athensnews.gr/portal/8/55199

Government delays may short circuit elections

26 Apr 2012

First came the fears of multiple elections. Now comes the fear that government delays will short circuit the elections themselves. (file photo) A warning that government delays might mar the smooth organisation of elections on May 6 was issued on Thursday by the board of the Greek judicial employees union federation. The union expressed intense concern that joint ministerial decisions needed to organise the attendance of judicial representatives and set up election crews at courts throughout the country had not yet been issued. As a result, they said, all the preparatory actions that had to take place to properly organise the holding of the Parliamentary elections on May 6 were already delayed and time was running out, so that there was now a "visible possibility" of problems in the preparation and holding of the elections. (AMNA) and...... KYSEA cancels buying of four C 27 aircraft 26 Apr 2012 The KYSEA has decided to substitute aircraft for spare parts in an effort to reel in defence expenditure. (photo: Eurokinissi) The Government Council of Foreign Affairs and Defence (KYSEA), that convened on Thursday afternoon under the chairmanship of Prime Minister Lucas Papademos, decided to cancel the buying of the remaining four C 27 transport aircraft. According to relevant government sources, the 8 of the 12 that Greece has ordered from an Italian company have already been received, but only one is in full operational readiness. Consequently, according to the same sources, a consultation is under way with the Italian Alonia company, so that instead of the four aircraft, Greece can obtain spare parts for the functioning of the seven that have been received, but for which there are not enough spare parts for them to function fully. It is estimated that about 58 million euros will be saved from this change. KYSEA also approved the new manual on the handling of crises based on the armed forces new structure, as well as Greece's response to the obligation to provide officers for NATO's rapid intervention forces. In another development, Papademos will address a conference of the Exporters Federation at 12 noon on Friday, while later, at two in the afternoon, he will chair a cabinet meeting focusing on the recapitalisation of banks. (AMNA) and..... http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_26/04/2012_439526 EIB to revoke drachma clauses By Chryssa Liaggou European Commissioner for Economic and Monetary Affairs Olli Rehn said drachma clauses being inserted by the European Investment Bank (EIB) into new loan agreements with Greek companies are “unfortunate.” The Commission has put pressure on the lender to withdraw all clauses that relate to a possible Greek exit from the eurozone or the collapse of the euro area in general. Its intervention appears to have borne fruit. According to sources, Rehn met this week with his Greek colleague, Maria Damanaki, and informed her of his personal disagreement with the EIB requirements. He also reported that the bank’s governor, Werner Hoyer, had promised that the the clauses will be removed from the agreements. The same sources told Kathimerini that the Finnish commissioner branded the terms “bureaucratic” and the EIB’s intention to impose them ”unfortunate and incomprehensible.” Rehn’s intervention followed a letter from Damanaki informing him of a report run by Kathimerini a few days ago about the insistence of EIB to include drachma clauses in the 70-million-euro loan it agreed with Public Power Corporation, Greece’s main electricity producer, for a new plant at Megalopoli. Damanaki cited the report by Kathimerini in her letter to Rehn, suggesting that the EIB initiative was arbitrary and running counter to the Commission’s position, and particularly to its recent statement about growth in Greece. She added that it was at least unfortunate that while the eurozone has agreed to lend Greece 130 billion euros, the main funding branch of the European Union disputes, if indirectly, Greece’s future in the eurozone. and..... http://www.ekathimerini.com/4dcgi/_w_articles_wsite2_1_26/04/2012_439525 Cabinet prepares for bank recapitalization By Yiannis Papadoyiannis The heads of (right to left) Piraeus Bank Michalis Sallas, Alpha Bank Yiannis Costopoulos, Eurobank EFG Dimitris Nanopoulos and National Bank Vassilis Rapanos are expecting to hear on Friday of a new set of measures from Cabinet on the context of the lenders’ recapitalization. Sources suggest that the government will proceed with a series of preparatory moves to ensure the strengthening of the credit system until the final structure of the recapitalization is determined after the May 6 general elections. Besides the four major commercial banks, Cabinet will also discuss the distribution of capital to other lenders, too, so as to have the funds set aside by the Hellenic Financial Stability Facility (HFSF) to immediately bolster local banks.