Greek bank bailout fund has used up nearly three quarters of its reserves

Greece’s bank bailout fund has so far spent €38bn (£33bn) keeping up the country’s banking system – around three quarters of the €50bn total it was initially given (release).

The Hellenic Financial Stability Fund (HFSH) said it spent around €25bn on bolstering the capital of the country’s four largest lenders and a further €13bn on winding down eight smaller banks.

Most of the funds have come from eurozone taxpayers and the International Monetary Fund. Private investors contributed just €3bn to the bailout of the three largest banks: National Bank, Piraeus Bank and Alpha Bank.

The three banks named above, plus the Eurobank, have now successfully been recapitalised.