National Bank of Greece (NBG) Lower as Greece Aims to Avoid Third Bailout

National Bank of Greece (NYSE: NBG) shares are lower on news that Greece may, in fact, actually need a third round of bailouts.

Reports out late Tuesday have one Greek official saying the country wouldn't take further aid, which would come with another series of conditions.

However, European Central Bank (ECB) president Mario Draghi warned that the pace of economic fixes in Greece is slowing and officials in the country should not consider that its commitments have been met.

The Troika, which consists of the International Monetary Fund (IMF), ECB, and the European Commission, want Greece to focus on economic overhauls rather than relying on its links to markets. The country will face a funding gap of about $16 billion in 2015, before accounting for money raised in bond sales.

Shares of National Bank of Greece are down 4 percent.

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