Will the Greek Economy put Finans Bank at Risk

[nichola]

I agree, maybe you can change the topic title to read Is Greek economy putting Finansbank at risk? That might grab more attention!

[tribalelder]

Done.....lets see what that brings

[c1]

greece not the only member of the euro which is in trouble, hence the euro strenght weakening I reckon down to 80p each by end of summer.

[BM06]

Well that did not seem to work either Brian, head in sand perhaps i remember 1999, lets hope its not a repeat, good info though thanks

[tribalelder]

i was talking to one of the staff of Finans bank this morning and inquired about how they felt about the involvement of the National Bank of Greece and was there any instability. The answer was somewhat surprising saying the Greeks did not like the Turks and visa versa, the respective governments tried their best to paint the other in the worst light. I then expected the pr engine to kick in but it seems the National Bank of Greece is experiencing a very large influx of money due to savers pulling out of smaller private banks and putting it in the National Bank.....I still reserve judgement but we will see.[?]

[Ovacikpeedoff]

The large influx of money is no guarantee and could actually destabilize a bank. Banks make money by being able to lend at a higher rate. If the economy is so bad then it is likely there are tight credit controls in place. Not a great deal different to the UK where last year you needed an 80% deposit to buy a house. Greek lenders will be applying the same types of criteria.

[Woodies]

quote:Originally posted by c1

greece not the only member of the euro which is in trouble, hence the euro strenght weakening I reckon down to 80p each by end of summer.

C1, What happens in the Euro zone, if one country, has a strong, vibrant economy, but another is suffering financial depression of some sort? How can the Euro be devalued in one country, without affecting the others. Perhaps another good reason, for the UK, not to have joined the Euro fiasco.

[captainjon]

Greece risking a second reduction in its rating by Moodys if it fails to make recent budget targets. Bloomberg this am.

[stuart]

portugal ireland and spain next

[braveheart]

Sixteen months since first post - Greek financial crisis escalating
Do any of our financial gurus have any additional points to reflect re the Finansbank connection??