Greek Banks Need 14 Billion Euros, Report Claims

The four major Greek banks need 14 billion euros to cover their capital needs, according to Reuters.

A Reuters report cites two European officials who claim that European Central Bank’s comprehensive assessment of the Greek banks generated the amount.

The ECB’s official stress test results on Greek banks are set to be released on Saturday. The recapitalization is targeted at Greece’s four major banks: Alpha Bank, Eurobank, National Bank, and Piraeus Bank.

The Greek government has tabled a proposed legislation on the process of the recapitalization of the Greek banks. Yannis Dragasakis, Greek government Vice-president noted on Thursday that the parliament will vote on the draft legislation on Sunday, following the release of the ECB’s results.

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