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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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European leaders meet in Brussels for latest talks

Greek Prime Minister Alexis Tsipras (L), German Chancellor Angela Merkel (2ndL), European Commission President Jean-Claude Juncker (2ndR) and French President Francois Hollande (R) Credit: REUTERS/Philippe Wojazer

The key players in the ongoing Greek credit crisis have met once again in Brussels for the latest round of talks.

Greek prime minister Alexis Tsipras, German chancellor Angela Merkel and French president Francois Hollande were all around a table again today with fresh hopes of reaching some sort of agreement.

But German Chancellor Angela Merkel said on arrival there was still no basis for reopening negotiations with Athens.

"It is not a matter of weeks but of a few days" to save Greece from collapse, Merkel told reporters.

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