In reply to related press articles, Emporiki Bank states that the Council of State s opinion referring to the forthcoming release of a Presidential Decree on article 62, paragraph 6 of the Law 3371/2005:
(1) Does not refer to unconstitutionality of the Law 3371/2007, and does not refer at all to the special legal provision for TEAPETE on the base of Law 3455/2006.
(2) Does not apply to TEAPETE, and therefore does not have any impact on Emporiki Bank, as its pension issue was directly addressed by the stipulation of article 26 of Law 3455/2006.
The forthcoming release of the Presidential Decree does not apply to TEAPETE, since the Management and the management of its assets remain intact, while Emporiki Bank s employees and retirees were directly included into ETAT and ETEAM under the special provision of the Law 3455/2006 and are not addressed by the transitional stage of article 62, paragraph 6 of Law 3371/2005.
(3) As far as the cost for Emporiki Bank for the resolution of its pension issue is concerned, this has been explicitly defined and ratified by Law 3455/2006, and therefore there is no further impact on Emporiki Bank.