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ECB tightens screws on Greek banks

According to the Financial Times, the European Central Bank has decided to make it illegal for Greek banks to add to their holdings of short-term government debt “in a move that effectively cuts off a key source of funding for Athens and heightens the risk of a sovereign default.”

  • Published in Greece

Where Do Greek Banks Stand Today?

Systemic Greek banks, which have already received 41 billion euros in an injection of state money from previous tranches of bailout funds received by Greece, will need another 6.4 billion, and according to stress tests performed by BlackRock Solutions, less than the nine billion estimated is from international lenders.

  • Published in Greece
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