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Major Greek banks 'could be forced to merge'

Some of Greece's biggest banks may have to shut and merge with their rivals, it has been claimed.

A European official told the Reuters news agency that Greece's four big banks - National Bank of Greece, Eurobank, Piraeus and Alpha Bank - could be reduced to just two.

European leaders are meeting on Sunday in a bid to strike a financial aid deal with Greece.

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Greek banks to remain shut for rest of the week

Greek banks will remain shut for the rest of the week. Credit: PA

Greek banks will remain closed for the rest of the week, state television said on Wednesday.

A €60 daily limit on cash machine withdrawals will also remain in force.

The Greek government ordered banks to shut on June 29 after the collapse of negotiations on an international financial aid deal.

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