Kerin Hope
FT
August 22, 2011
Greece’s four largest banks agreed to take up a €50m convertible bond to help recapitalise Proton Bank, a small lender, the central bank announced this weekend, in what is being seen as an attempt to avert a run on the country’s fragile banking system.
The deal came ahead of an expected announcement this week that several Athens lenders plan to seek emergency liquidity assistance from the Greek central bank, senior bankers said.
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