ECB identifies 14.4bn euro shortfall at Greek banks

FRANKFURT – The European Central Bank on Saturday said that four major Greek banks would have a capital shortfall of up to 14.4 billion Euros ($15.8 billion) if the economy took a turn for the worse.

The ECB said that it had given the four banks concerned Alpha Bank, Euro bank, NBG and Piraeus Bank until November 6 to submit plans explaining how they intend to make up that shortfall.

 

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