All eyes on Frankfurt for stress test results
Athens and Brussels are eagerly anticipating the results of the stress tests on Greek banks and their capital requirements according to the baseline and the adverse scenarios that the European Central Bank will release on Saturday morning in Frankfurt.
The extent of the capital needs will determine whether or not the recapitalization of banks can be dissociated from the completion of the first review of the bailout program.
The all-important euros, i.e. the amount Greece has already borrowed, and can be released to banks through a simple decision by the European Stability Mechanism board.
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