They are stealing Hellenic wealth on the quiet.
How did the Greek people loose control of their main banking system?
How many of us are aware of the recent passing of a by-law in the Greek Parliament that allowed prospective buyers of the top four Greek banks to set the price of shares themselves?
What this means is that the so called "Left Wing Government" through its parliamentary majority has made it compulsory for the Hellenic Financial Stability Fund to accept pricing set by the "book building method".
In such a move the Banks cannot set pricing and have to accept buyers pricing.
In such a move the Banks cannot set pricing and have to accept buyers pricing.
"Book-building method".
During this: An underwriter "builds a book" by accepting orders from fund managers indicating the number of shares they desire and the price they are willing to pay.So foreign investors were allowed to buy majority shares in National Bank, Alpha Bank, Eurobank and Piraeus Bank, at rock bottom prices. The total share price just 6.42 billion dollars for the banking giants which have assets worth more than $350 billion.
So, how much does the Greek State control?
State Ownership until now from now on
National Bank 57% 24%
Eurobank 35% 2.4%
Alpha Bank 64% 11%
Piraeus Bank 67% 22%
And that means that: The Greek State and its citizens have lost control of Greek banks.
In the last three years Greek people forked out $44 billion to bail out the banks of which only 6.42 is returned.
Some of the "lucky" investors are: Capital Group, Pimco, WLR Recovery Fund, Wellington, Fairfax, Brookfield Capital Partners and Highfields Capital Management.
Eurobank 35% 2.4%
Alpha Bank 64% 11%
Piraeus Bank 67% 22%
And that means that: The Greek State and its citizens have lost control of Greek banks.
In the last three years Greek people forked out $44 billion to bail out the banks of which only 6.42 is returned.
Some of the "lucky" investors are: Capital Group, Pimco, WLR Recovery Fund, Wellington, Fairfax, Brookfield Capital Partners and Highfields Capital Management.
SO, WHAT HAS HAPPENED?
The Greek government has allowed the sale of these banks as if they were bankrupt even though they own assets worth more than $350 billion.
Click on the link below to see the document signed by the Minister of Economics Mr E. Tsakalotos and Economy Development and Tourism Mr Y. Stathakis that has made this sale possible.
This text is in Greek.
By-Law for the sale of the Big 4
The Greek government has allowed the sale of these banks as if they were bankrupt even though they own assets worth more than $350 billion.
Click on the link below to see the document signed by the Minister of Economics Mr E. Tsakalotos and Economy Development and Tourism Mr Y. Stathakis that has made this sale possible.
This text is in Greek.
By-Law for the sale of the Big 4
SOURCES:
CNBC
PRONEWS
Amfipoli News
CNBC
PRONEWS
Amfipoli News
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