ECONOMY

Berlin pleased Greek banks’ capital hole not bigger

berlin-pleased-greek-banks-amp-8217-capital-hole-not-bigger

Germany is pleased that the capital hole of Greek banks is smaller than the 25 billion euros earmarked to help them in the country’s bailout program, a Finance Ministry spokesman said on Monday.

“It is pleasing… that the capital requirement does not go beyond the 25 billion euros agreed,” the spokesman told a regular government news conference.

He added that the German government must nevertheless now examine the plans of Greek banks and see how the European Central Bank reacts to them.

[Reuters]