National Bank of Greece (NBG) Lower as Germany's Schäuble Sees More Bailout

August 20, 2013 2:29 PM EDT
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National Bank of Greece (NYSE: NBG) has slipped into negative territory Tuesday following comments from German finance minister Wolfgang Schäuble.

During an election rally for his Christian Democratic Union party, Schäuble said that a third bailout program would likely be needed for Greece. To-date, about €246 billion in loans have been pledged for the country.

Euro-area finance ministers agreed last year to give Greece more financing when its current plan winds down in 2014.

German chancellor Angela Merkel and other officials in Germany have taken strides to curb discussion on Greece until it is further warranted. It seems Schäuble is easing his language as he garners support on the campaign trail.

Shares of the National Bankof Greece are down 2.2 percent.

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