Σελίδες

Related Posts Plugin for WordPress, Blogger...
Showing posts with label recapitalization. Show all posts
Showing posts with label recapitalization. Show all posts

Sunday 23 December 2012

Mere cash injection may not be enough


By Dimitris Kontogiannis
The Greek government has invested a lot in the long-awaited bailout tranches to cope with the developing credit crunch and bring the economy to the stabilization phase late next year. However, a closer look at the figures indicates the positive impact may be less than hoped for, and therefore the risk of disappointment on the back of fostering high expectations should not be ignored or underestimated.

Saturday 22 December 2012

Leading Greek banks in the doldrums and need over $17bn to recapitalize

The two largest banks in crisis-stricken Greece need a total of €13bn ($17.2bn) to recapitalize, as they took huge losses in the country’s debt restructuring.
Greece’s second largest bank by assets, Eurobank, needs €5.8bn, with the fourth largest lender Piraeus Bank being short of €7.3bn, according to the Wall Street Journal. In the first 9 months of the year the two banks reported combined losses of €1.7bn, with a huge part of that due the banks’ participation in the country’s debt restructuring programme.
The four biggest banks in Greece were left technically insolvent, after they joined the €200bn debt restructuring programme. It left them dependent on extremely expensive loans from euro zone member states and the International Monetary Fund.

Blog Archive