23.05.2012
By Simon Miller
Four of Greece's largest banks will get an injection of capital to allow them to receive funding from the European Central Bank (ECB) again.
Last week, the ECB stoppped monetary policy operations with Greek banks as they had not been successfully recapitalised.
In a statement, the Hellenic Financial Stability Fund said its board had unanimously approved the recapitalisation, which would be signed on Wednesday by the the fund, the banks and the European Financial Stability Fund (EFSF).
As a result, National Bank, Eurobank, Alpha and Piraeus will receive €18bn (£14.5bn) in the form of EFSF notes immediately once the agreement was signed.
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