ECB's Greek bank test shows 3rd bailout likely to be smaller than planned- ESM

October 31, 2015 6:03 PM

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BRUSSELS Oct 31 The euro zone's third bailout for Greece is likely to be smaller than the initially envisaged 86 billion euros, because the European Central Bank's stress test of Greek banks showed they need less recapitalisation, the euro zone's bailout fund said.

The results of the ECB's tests, announced earlier on Saturday, showed that Greece's banks need to raise more than 14 billion euros ($16 billion) of extra capital to cover mounting unpaid loans.

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