Nov
01
Greek Lenders Told to Raise $15.9 Billion to Cover Bad Loans
By
The European Central Bank said that the National Bank of Greece would need to come up with €4.6 billion. CreditMichalis Karagiannis/Reuters
Greece’s four biggest banks, which suffered severe losses when they were shuttered this summer as the country veered toward economic collapse, must raise nearly $16 billion in new money to withstand any new crisis, theEuropean Central Bank said on Saturday.
The central bank’s assessment was eagerly awaited by the financial world as a crucial step in determining how much money the Greek banks would require to achieve stability as the country tries to claw its way out of its deep economic hole…
Greek Lenders Told to Raise $15.9 Billion to Cover Bad Loans
