Greek banks are well capitalised

Greek banks have enough bailout funds on hand to cope with any extra capital needs from bad loans, the country’s central banker George Provopoulos told a news website this morning. The EU and the IMF have so far spent about €40bn (£33.32bn) to bail out the country’s banks as part of its €240bn rescue. BlackRock is expected to soon publish a report that will reveal if Greek lenders need more capital to plug holes, mainly from bad loans. Provopoulos said there is enough money to cover any shortfall the BlackRock report might reveal.