Saturday, May 5, 2018

Greek banks successfully pass stress test, freeing funds to relieve debt

Greek banks successfully pass stress test
Greece's four main banks have successfully passed a stress test, paving the way for the release of bailout funds to relieve the Mediterranean country's crushing debt load, according to results made public on Saturday by the European banking supervision body.

The Single Supervisory Mechanism estimated that the country's reduction of capital until 2020 under an adverse economic scenario would hover around nine percentage points, equivalent to some 15.5 billion euros ($18.6 billion).

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