Greek Banks' Clean Bill of Health Frees Bailout Funds
- ECB says largest lenders had sufficient capital in stress test
- Results leave 20 billion euros of bailout cash untouched
Greek Debt Won't Be Repaid, Former Finance Minister Says
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Greece’s biggest banks emerged unscathed after a stress test, giving European policy makers one less worry as they plan for the end of the nation’s latest bailout in August.
Piraeus Bank, National Bank of Greece, Alpha Bank and Eurobank Ergasias survived the test’s adverse scenario, which pitted them against a fresh recession and a collapse in real-estate prices, the European Central Bank said on Saturday. The results mean almost 20 billion euros ($24 billion) of funds set aside to shore up the lenders is now free for other purposes.