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Papandreou Says Some Greek Banks May Need Phase in State Hands

Greek Prime Minister George Papandreou said the government may need to nationalize some of the country’s banks as the state acquires stakes in them as part of their recapitalization.

The banks would pass through state hands “for a period,” before being privatized, Papandreou said in comments to ruling party lawmakers in Athens televised on state-run Vouli TV today.

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