Greek PM Papandreou:Greek banks in need of capital to be nationalized

Discussion in 'Wall St. News' started by ASusilovic, Sep 11, 2011.

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    He also signalled that several struggling Greek banks expected to seek capital injections from a €10bn bank stability facility would be nationalised, ending speculation that their major shareholders would be allowed to retain control.

    Recapitalisations arranged by the stability facility, which is backed by the International Monetary Fund, would be carried out through the issue of voting shares by the state, “so that the Greek taxpayer will be the beneficiary of this rescue.”


    Maybe Bank of America will be the next "nationalized" bank? The banks have brought themselves into the situation: the never ending bashing of government spending habits will lead to the nationalization worldwide of banks who want to retain their "private" status. Stupidity never ends. Especially the idiots in the banking divisions called "macro economists" - at the forefront of bashing governments - should be fired FIRST.