January 20, 2002	Sunday	Ziqa’ad 5, 1422

ATHENS, Jan 19: Greece’s two largest banks called off their 10 billion euro merger on Saturday, ending plans to create a regional giant to compete in the eurozone.

National Bank and Alpha Bank blamed each other for the break-up, which followed a week of huddled meetings to try to salvage the troubled deal, announced last November.

The break-up is likely to spark speculation about foreign investors linking up with at least one of the banks as Greece’s banking sector adjusts to the new eurozone environment.—Reuters