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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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Greeks queue to withdraw cash from ATM machines

Greece's deputy prime minister said his government will continue working closely with the European Central Bank and the country's central bank to ensure banks are stable, after a meeting with ECB chief Mario Draghi.

Greeks queue to withdraw cash from ATM machines. Credit: Reuters

Following today's meeting with Mario Draghi in Brussels, Yannis Dragasakis and (Greek negotiator) Euclid Tsakalotos said that the government will continue working closely with the ECB and Bank of Greece for the stability of the country's banking system.

– Deputy Prime Minister Yanis Dragasakis on Twitter

Greeks lined up at ATM machines to withdraw cash after Prime Minister Alexis Tsipras called a referendum on a bailout agreement, throwing the country's future in the euro in doubt.

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