Bank of Piraeus

Finance Minister Yanis Varoufakis’ $60,000 speeches were not enough to quench his greed for money, his participation in the mysterious 1101 platform shows that his money-grabbing fiesta is all but over. The platform set up by Varoufakis and another 1100 is a site without content that charges users who are “interested in impartial and objective journalism” to pay 5 euros per person for use.

The Frankfurt-based European Central Bank announced the results of the Greek bank stress tests. The capital needs of the country’s four main banks were calculated to be at 14.4 bln euros:

– Eurobank 2.12 bln euros

– Alpha Bank 2.74 bln euros

– National Bank of Greece 4.6 bln euros

– Bank of Piraeus 4.93 bln euros

By Jonathan Saul & Sophie Sassard

Greece's leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources.

By Lefteris Papadimas & Stephen Brown

Greece admitted on Wednesday it will struggle to make debt repayments to the IMF and the European Central Bank this year as Germany?s finance minister voiced open doubts about Athens?s trustworthiness.

Greek lenders Bank of Piraeus and Eurobank will drop out of the pan-European STOXX 600 benchmark, index compiler STOXX said, potentially depriving them of investment flows at a rocky time for Greek's economic future.

Despite a recent rebound, shares in the two banks are down around 65 percent since February 2014, hurt by worries over Greece's debt pile.

Worries over Greece's future in the euro zone kept shares under pressure on Monday, even as fresh multi-year lows for the euro and crude oil gave a boost to travel and consumer-goods stocks.

The pan-European FTSEurofirst 300 index was down 0.1 percent at 0909 GMT, with benchmark indexes in London and Frankfurt also in negative territory. The Paris CAC 40 stayed flat.