The cost of the Greek bailout may prove significantly smaller

EPA/PANTELIS SAITAS

Pentioners stand in queue to get part of their pensions outside of a National Bank of Greece branch in central Athens, Greece, 09 July 2015. The European Stability Mechanism (ESM) received on 08 July the Greek request for a new loan programme.

The bank’s recapitalization is likely to cost 15 billion Euros less than originally envisaged


Greece may need €15 bn less than originally estimated this July, as its banking system seems to be healthier than originally thought.

The Greek Parliament passed on Sunday, November 1st, a bill required for the second recapitalization of the Greek banking system in eighteen months. Greek banks have undergone a series of stress tests by the European Central Bank (ECB), following a run on the banks and the imposition of capital controls this summer.

Last Saturday, the ECB announced the resul...


This story is part of New Europe's Premium content.

To Read the Full Story, Subscribe or Sign In from the ↑ Top of the Page ↑
new europe join now