Greek banks rebound as Athens clarifies remarks

Athens

GREEK bank stocks rebounded as the government moved to contain the fall-out from pledges made by its ministers, seeking to downplay the prospect of an imminent clash with creditors.

Within 48 hours of the appointment of an anti-bailout Cabinet under Prime Minister Alex Tsipras, stocks in Athens fell to lows not seen since the peak of the debt crisis, with banks, in which Greek taxpayers are the biggest shareholders, losing about US$11 billion of their value.