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Resolution body financing through ECB

15/01/2016 13:52
The financing of the single body for out of court resolution of financial disputes will be possible after amendment of the relevant law provided that there will be a positive opinion from the ECB, as the Ministry of Finance and the Central Bank say.

In a letter to MP George Perdikis of the Ecologists, the Finance Ministry and the CB note that any amendment to the Act should take into account the principle of CB’s independence.

It is added that in case of modification, the law should be sent to the ECB to get its opinion.

Funding for the operation of the single body comes from financial firms but also from the State which provided the building for housing the body, while necessary staffing of positions by civil servants was also made.

The organization has received €271 thousand from financial companies for its operation.