A nice one from Citibank´s Greek banking team: http://ftalphaville.ft.com/blog/2011/04/21/551936/barber-ians-at-the-greek-gate/?updatedcontent=1
Someoneâs in trouble. Wednesdayâs market whispers â that Greece was going to announce a restructuring of its debt as soon as this Easter weekend â have spurred a response from the countryâs finance ministry. But the response is not so much about a possible restructuring per se, as the rumours themselves. The statement, in full: Αthens, 20 April 2011 Announcement regarding the request for an investigation into thespreading of rumours affecting financial markets: The Ministry of Finance has asked the Athens Public Prosecutor to investigate possible criminal conduct associated with todayâs movements on the Athens Stock Exchange and the prices of Greek Government bonds. The Ministry has sent to the Prosecutor an email from traders of an international investment bank that refers to the supposed restructuring of Greek Government debt over Greek Easter weekend. Such rumours are of course devoid of any substance and verge on the ridiculous. Nevertheless, since the dissemination of such false ânewsâ can create concerns among the public at large, the Ministry of Finance will use all legal means available in order to identify and pursue those responsible. Greek bank stocks fell 4.58 per cent on Wednesday, taking the wider Athens index with them.
I have noticed you have some kind of fixation with Greece my friend. Forget about Greece, it is a drop in the ocean of debt. The real problems are with US, France, Italy, the UK, Spain and a few others. Do you know how much money these countries owe combined and whether any assumption that they will be able to replay their debt is valid? Do you see silver rallying to the sky my friend? Do you think it is because of Greece alone?
Don't worry about debt. Governments will continue to print more money because it works regardless gold and silver are going up. <iframe title="YouTube video player" width="480" height="390" src="http://www.youtube.com/embed/jllJ-HeErjU" frameborder="0" allowfullscreen></iframe> Keep buying the dip
ASusilovic, Thanks for posting this. Is National Bank of Greece (NYSE: NBG and Athens: ETE http://noir.bloomberg.com/apps/quote?ticker=ETE:GA) included in the table? I saw that the table (http://av.r.ftdata.co.uk/files/2011/04/greekbanks1.jpg) lists only: EFG, Piraeus, ABG, PSB, BoC, Marfin, Hellenic Bank Does this list of seven banks include NBG?
Link to Goldman Sachs research about bank exposure to European sovereign debt: http://www.scribd.com/doc/53525577/European-Greek-Restructuring which was from this Zero Hedge article titled: Goldman On Banks' Exposure To The Greek Restructuring, Pardon, "Liability Management Exercise" http://www.zerohedge.com/article/go...ucturing-pardon-liability-management-exercise