It is now imperative to recapitalise the Greek banks by the end of this year in order to avoid use of the BRRD’s bailin tool, which will enter into force on 1 January 2016.
A third example is establishing a legal and supervisory infrastructure that would encourage the institution of reverse mortgages, which would enable the elderly to obtain a monthly income flow from the apartment they own. The Bank of Israel has been engaged in the subject of poverty for a long time, and has published position papers, policy proposals and many research papers on it.