Greek Bank Bonds Slide After PM Refuses to Extend Bailout

Bonds of Greece’s banks extended declines, with notes of National Bank of Greece SA falling to a record, after the government’s refusal to ask to extend the bailout program boosted concern a run on deposits may accelerate.

National Bank and Piraeus Bank SA were among the worst performers in Bank of America Merrill Lynch’s Euro Financial High Yield index. Prime Minister Alexis Tsipras said in Parliament on Sunday he would roll back measures put in place as part of the international rescue package, vowing to raise the minimum wage and restore the income tax-free threshold for individual workers.