The worst is over for Greek banks

Greece's central bank governor said on Monday that the worst is over for Greek banks and the interbank market was opening up again although banks' bad loans would not peak until next year.
Stronger balance sheets and fiscal progress will help the country's battered banks regain access to financial markets and cut their reliance on European Central Bank funding, Bank of Greece Governor George Provopoulos told Reuters in an interview.

"As regards Greek banks, I can say they have seen the worst, given that what happened in the sector was the result of a deepening fiscal crisis," Provopoulos said.
"Progress on the fiscal front will be reflected on the banking system, but the road ahead will be long, given the depth of the crisis," he said. New stress tests on Greek banks, undertaken by the central bank, in cooperation with the European Union, the International Monetary Fund and the ECB, would be completed by the end of December, after being delayed from earlier this year, he said.

News source: Stuff.co.nz link: article