This text is made simply to test the drop cap settings

The downgrade of NBG’s, Piraeus’, Eurobank’s and Alpha’s VR to ‘f’ from ‘ccc’ reflects Fitch’s view that these banks have failed and would have defaulted had capital controls not been imposed, given the high rates of ongoing deposit withdrawal and the ECB’s decision on 28 June 2015 not to raise the Bank of Greece’s Emergency Liquidity Assistance (ELA) ceiling.