£14.5bn bailout for Greek banks

Press Association
Greek banks
Greek banks

Greece's four biggest commercial banks are to receive an 18 billion euros (£14.5 billion) cash injection from the European bailout fund.

The recapitalisation comes amid political uncertainty in the debt-stricken country after inconclusive elections on May 6 saw a rise in support for anti-bailout parties and cast doubt over Greece's future involvement in the single currency.