Marfin Popular Bank does not need or want any state aid

Marfin Popular Bank Public Co Ltd said that it does not need nor does it intend to use any state aid of any nature, in a reference to the EUR 28 bln state-offered aid plan that Greece recently announced.
In a press statement the bank added that other group members, Marfin Egnatia Bank and Investment Bank of Greece also did not need any state funding.
Greece recently pledged up to EUR28 bln in support measures as part of a European Union-wide response to a global financial crisis.
Finance Minister George Alogoskoufis has recently said: 'With a combination of state guarantees, state participation and increased liquidity that can reach 28 billion euros, we will help the banking system to overcome the credit crunch'.
Meanwhile the Greek Public Debt Management Agency (PDMA) said that Greece has accepted EUR1.8 bln from a total of EUR5.0 bln in bids for its reissued 10-year bond auction. The 10-year bond has a fixed annual coupon of 4.6 percent and expires July 20, 2018. The first coupon payment will be made on July 20, 2009. The bonds were oversubscribed 3.35 times and the weighted average yield came in at 4.86 percent, while the weighted average price was 98.005, the PDMA added. Settlement date is October 24 but the PDMA said it can accept an additional 20 percent of the auctioned amount in non-competitive bids until 12:00 noon on October 23.