Greece Weighs Using $15 Billion Bank Aid to Pay Down Debt

Greece may use 11 billion euros ($15.2 billion) of international aid earmarked for banks to reduce the nation’s debt, adding momentum to the government’s planned return to international bond markets.

Greece has used 25 billion euros of a 50 billion-euro European bank-rescue package to bolster its biggest lenders. Some 14 billion euros went to restructure smaller banks. The remaining 11 billion euros may not be needed should Greek banks find private investors, Finance Minister Yannis Stournaras said.