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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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UK is not immune from Greece fall-out, Osborne warns

George Osborne has warned Britain cannot be 'immune' from the fall-out from the Greek referendum Credit: Reuters

Britain cannot be "immune" from the fall-out from today's Greek referendum, George Osborne has warned.

"I don't think anyone should be in any doubt - the Greek situation has an impact on the European economy which has an impact on us," the Chancellor told BBC1's The Andrew Marr Show. "We cannot be immune from these developments.

"Whatever Greece decides, Britain is prepared," he said. "We have the plans in place for whatever the outcome is."

David Cameron will chair talks with Mr Osborne and Bank of England Governor Mark Carney tomorrow morning to assess the impact of the poll, which could see Greece become the first country to be forced out of the euro.

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