11/19/2015 - 8:02
Shameful sellout of Greek banks in international funds - The largest free deal in history given away 58 billion
Behind this success of banks - which in a sense is success - hiding the shameful sell-off of Greek banks.
Privatization of Greek banks has always been the cornerstone of the relaunch of the Greek economy, but how was the recapitalization of 2015 is not only unacceptable but also humiliating.
Foreign investors acquired full control of Greek banks may have closed the most favorable deal in the history of the market economy.
Invested 9 billion. Without the FSF and the investment is given away 18 billion. Funds available to the banks prior to the recapitalization.
At the same time freely given and 40 billion. Invested in 2013 in Greek banks FSF 25 billion. Capital and 15 billion. A funding gap for a total of FSF and bank funds 58 billion.
The bankingnews.gr to market issues, liberal approach and privatization did not choose the path of populism, but we can not record the truth.
Behind this success of banks - which in a sense is success - hiding the shameful sell-off of Greek banks.
Within no time they took these incredible things with facts, not conjecture or assumptions.
1) reset the values of Greek banks.
Please consider that the stock market banks worth 2.8 billion. Euros and the bids submitted in foreign tenders books valued the Greek banks to 750-800 million.
That valued foreign investors 345 billion. Assets or 215 billion. ... Weighted assets by 750 million euros.
There are worst.
2) Banks already have 18 billion. Funds and will gain at the end of the recapitalization another 14 billion. Total 32-33 billion. Euro funds.
The foreign tenders submitted in the tender books virtually given away 18 billion. Bank capital.
There are worst.
3) An example that Piraeus 86 billion. Assets valued in terms of the tender book building at the price of 18 million incredible but true or Eurobank 183 million.
There are worst.
4) The Greek investors were destroyed literally lost everything, Greek shareholders zeroed, the old traditional shareholders zeroed.
The Greek banks changed hands and literally sold out to international investors.
This is vilification.
There are worst.
5) Foreign investors not only took 18 billion. Free capital demanded through degrading prices in tender books earn around the discount between the price of the book deals and the stock market price.
Let's give an example.
The price of Eurobank in the tender book is about 0.0125 euros and the price on the board of the stock exchange 0,024 euros.
That you know what means that foreigners earn and the price difference in the book value in the stock market.
There are worst
6) Capitalism is not for the young and the left SYRIZA government has demonstrated its support for international funds - supposedly struggling for first home - but flattens and marginalizing the minority shareholders.
Excluding National will open the book and offers small shareholders essentially the system excluded the timeless bracket Greek banking.
In 2006-2007 the Greek banks were in the stock market capitalization 68-72 billion. Euro individuals held 44% of the share capital of Greek banks.
There are worst
7) All cut for the Greek taxpayer.
Nonsense have him for the bin.
Greek taxpayers borrowed 40 billion. In 2013 to recapitalised banks what is the current value of 40 billion. The FSF?
The real value is approximately EUR 1.5 billion. EUR in the best scenario.
So neither the objective of the IMF to be recovered 15 to 16 billion. Recapitalization reached and even worse these funds were lost literally.
A total of 40 billion. 2013 lost .... lost literally.
We do not underestimate in any way the overexertion of the administrations of Greek banks but the recapitalization was a major national issue.
The way in which this was the recapitalization is the most offensive and humiliating happened.
Everyone lost or to be exact everybody lost than international funds.
Of course they will say, and rightly suffered huge real and accounting losses resulting as had placed 8.3 billion. In 2014 and they have almost zero, so the foreigners lost.
Yes, but the government has endeavored to provide a huge opportunity to the investor of 8.3 billion. 2014 to recover that lost referring to international funds.
The Greek taxpayer's loaded issue 40 billion. Worth zero and otherwise left the government struggling to the taxpayer.
Real and lamentable tragedy.
www.bankingnews.gr
I did a google translation,
-tria
Edited by tria, 22 November 2015 - 08:28 PM.
