Greek banking solution sought

Sep 28, 2012

Greece ponders a Spanish-style recapitalisation of its banks

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Despite receiving billions of euros in bailout loans, Greece may seek a Spanish-style rescue of its ailing banking sector as part of a debt crisis solution, says The Independent. A Greek government source said the country was looking at various ways to lessen its debt burden, including another write-down or a "strong recapitalisation of its banks". The source said Greece was only willing to introduce another round of cuts "on the condition that it comes as part of a European solution to our debt crisis."

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