Greek banks must find up to US$16bil after ECB stress test

FRANKFURT: Four major Greek banks must find up to 14.4 billion euros (US$15.8bil) to survive potential economic shocks, the European Central Bank said on Saturday, releasing the results of an in-depth financial health check.

Weakened after years of recession, Greece’s banks took a further battering this year when the government pushed the country to the brink of a euro exit in a standoff with Berlin and Brussels over the terms of Greece’s international bailout.