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The slow-motion train wreck continues in Greece, with police urging citizens to keep their money...

The slow-motion train wreck continues in Greece, with police urging citizens to keep their money in the banks rather than sowing the seeds for a wave of home thefts. Greek banks have seen almost 25% of their deposits drained out over the last two years, and are likely to be shored up today or Monday with €18B of bailout funds that are weeks overdue.
Comments (2)
  • Michael Parmar
    , contributor
    Comments (235) | Send Message
     
    Greek banking website reporting that ELA of 65 billion is used out of 100bn, up from 60bn last week. This is not a dramatic increase.

     

    At present the ECB has said no more, but when push comes to shove, i find it hard to see how for the sake of 50bn increase in that facility, the Eurosystem will be willing to flush itself down the toilet.
    25 May 2012, 04:28 AM Reply Like
  • stocknerd
    , contributor
    Comments (1274) | Send Message
     
    Actually this is good time to look at NBG @ $1.50 per share. Even if Greece goes bye-bye form the EU it will need a national bank for the country and NBG is the one. If one speculates and the Greeks stay in the EU the PPS of NBG will double.
    25 May 2012, 06:02 PM Reply Like
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