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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 ATM limit will not apply to foreign tourists

Tourists queue in Crete Credit: REUTERS/Stefanos Rapanis

Foreign visitors using credit and debit cards issued outside of Greece will not be restricted to the daily limit imposed on ATMs in the country.

The Greek government has imposed a €60 (£38) daily limit on all ATM transactions in response to the banking crisis currently engulfing the nation, and worried tourists had been seen queuing up alongside locals to withdraw cash.

Greek citizens will also be allowed to pay bills online, but money cannot be moved into offshore accounts, according to capital controls imposed in the wake of collapsed talks with the country's creditors.

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