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Greek rescue would raise EUR25 billion for banks, privatize power grid

( July 13, 2015, 10:15 GMT | Official Statement) -- MLex Summary: Greek banks stand to get 25 billion euros to shore up their capital in a possible European bailout. Conditions include a comprehensive assessment of the banks’ books and the government’s adoption of an EU law on how to resolve failed lenders, European leaders have agreed. Greece may need 82 billion euros to 86 billion euros in total. The conditions for a new rescue include the privatization of the power grid, “unless replacement measures can be found that have equivalent effect on competition,” the leaders said in the conclusions from an overnight summit.The following is the text of the statement. Click the attachment at bottom for the full document in original format....

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