Greek banks must find extra €14bn to survive dire economic downturn

European Central Bank audit identifies capital shortfall in worst-case scenario

Greece’s four main banks need to find another €14bn (£10bn) of reserves to ensure they could withstand an economic downturn, the European Central Bank said on Saturday.

The four banks – Alpha Bank, Eurobank, NBG and Piraeus Bank – have until 6 November to say how they intend to make up that shortfall, the ECB said. Continue reading