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Thursday, March 10, 2011

Greek cenbanker: 2011 year of mergers for Greek banks

Greece's central banker said on Thursday he expects consolidation moves in the country's banking sector to take place this year as banks seek alliances to deal with the debt crisis. "(Greek) banks are in a difficult phase because of the fiscal crisis, 2011 will be a year of reshuffling, mergers and cooperation," Bank of Greece head George Provopoulos told reporters at a meeting with President Karolos Papoulias. (Reporting by Lefteris Papadimas)

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