The cost of the Greek bailout may prove significantly smaller


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...

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