Battered Greek banks to flout Brussels new ‘bail-in’ rules

‘Greece’s battered banks are set to provide the first major test for the eurozone’s new “bail-in” rules as authorities race to avoid depositors footing a €15bn bill to get the country back on its feet.

With Greeks heading to the polls on Sunday, private sector creditors face uncertainty over whether they will be forced to suffer losses to keep the banking system afloat after months of economic turmoil.

Brussels has earmarked around €25bn to recapitalise the country’s four biggest banks, but only €10bn is immediately available to Athens under the terms of its new bail-out package.’

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