1 vote

REUTERS: Greek Bank Rescue Fund Has Spent 38 Billion Euros So Far

REUTERS: Greek Bank Rescue Fund Has Spent 38 Billion Euros So Far

ATHENS | Tue Jul 30, 2013 | 3:43pm BST

ATHENS (Reuters) - The Hellenic Financial Stability Fund (HFSF), Greece's bank bailout fund, has spent 38 billion euros (33.75 billion pounds) propping up the country's ailing bank system, three-quarters of the total it was endowed with.

About 25 billion euros were used to bolster the capital of Greece's four biggest banks, an HFSF report said. The HFSF, set up in July 2010, spent another 13 billion to wind down eight small lenders as part of measures to shrink the country's banking sector.

Read more: http://uk.reuters.com/article/2013/07/30/uk-greece-banks-idU...