ECB’s Nouy confident Greek banks will recover

ECB’s Nouy confident Greek banks will recover

Greek banks will recover from the current crisis because they entered the turbulence relatively strong thanks to earlier reform efforts, Daniele Nouy, the European Central Bank's banking supervision chair, said on Thursday.

"Political events have of course weakened the banks, but the crisis did not start from the banks," Nouy told Finnish broadcaster YLE. "I'm optimistic that the banks will recover because they have done so before."

Greece's banks, which include National Bank of Greece , Eurobank, Alpha Bank and Piraeus Bank, were allocated 25 billion euros ($28 billion) in the country's rescue package but must wait for the cash until authorities complete a test of their health in October.


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