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Major bank puts Greek shipping business up for sale

The severe problems, which Greece and the country's shipping sector face, are now causing the major lender Royal Bank of Scotland to put a for-sale sign on its Greek shipping portfolio worth billions.

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The Greek crisis is now causing the shipping bank Royal Bank of Scotland to pull out of Greek shipping. The bank has put its shipping portfolio of USD 5 billion up for sale, writes news media Reuters.

"We won’t be around for much more in Greece. RBS is slowly closing up operations here. The shipping business is up for sale. They have decided to sell it, if there is a buyer by December," said a source from Royal Bank of Scotland to Reuters.

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