October 13, 2011 / 12:46 PM / 8 years ago

Greek banks can withstand haircut of up to 30 percent - sources

ATHENS (Reuters) - Greek banks could endure a loss of up to 30 percent on their Greek government bonds but could not stand significantly bigger haircuts, Greek banking sources said on Thursday.

“Banks can withstand a haircut of up to 30 percent but a 50 percent haircut would inflict big losses and if it takes place there must be strong support for the economy,” a high level banking source said.

Reporting by George Georgiopoulos; Writing by Ingrid Melander

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