Cyprus Mail
Business World

EU/IMF insist Greek banks need over 8 bln euros in capital

Greece’s international lenders insist the country’s top four banks need an additional 8-8.5 billion euros in capital after stress tests, well above the needs estimated by the nation’s central bank, a banking source close to the talks said.

The two sides failed to reach an agreement on the issue at a Tuesday meeting but no further meetings are planned and the Bank of Greece plans to release its report on the stress tests later this week, the source said.

The Bank of Greece estimates the four major Greek banks – who have been battered by the country’s debt crisis and have been propped up by EU/IMF funds – will need about 5.8-6.2 billion euros in additional capital.

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