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| Greek banks receive 18bn euros from bailout fund | Greek banks receive 18bn euros from bailout fund |
| (about 2 hours later) | |
| Four Greek banks have received 18bn euros (£14.4bn, $22.6bn) as part of the nation's most recent bailout. | |
| The funds will be divided between National Bank, Alpha, Eurobank and Piraeus Bank. | The funds will be divided between National Bank, Alpha, Eurobank and Piraeus Bank. |
| The money has been released by the European Financial Stability Fund to the Greek body in charge of distributing the funds. | The money has been released by the European Financial Stability Fund to the Greek body in charge of distributing the funds. |
| It is part of Greece's second bailout that was signed-off by the European Union and the IMF in March. | It is part of Greece's second bailout that was signed-off by the European Union and the IMF in March. |
| That deal was for 130bn euros and hinged on an agreement by Europe's major banks and other financial institutions to write-off a large part of their loans to Greece. | That deal was for 130bn euros and hinged on an agreement by Europe's major banks and other financial institutions to write-off a large part of their loans to Greece. |
| A report on Monday said that National Bank, the biggest Greek lender, has received 7.43bn euros, the largest share of the new financing. | A report on Monday said that National Bank, the biggest Greek lender, has received 7.43bn euros, the largest share of the new financing. |
| The report from the AFP news agency said that Piraeus bank will receive 4.7bn euros, Eurobank will get 3.97bn euros and Alpha is to be handed 1.9bn euros. | The report from the AFP news agency said that Piraeus bank will receive 4.7bn euros, Eurobank will get 3.97bn euros and Alpha is to be handed 1.9bn euros. |
| Greek banks have been unable to raise money on the international markets so have been relying on the European Central Bank and bailouts from the EU and IMF. | Greek banks have been unable to raise money on the international markets so have been relying on the European Central Bank and bailouts from the EU and IMF. |