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Tag Archives: merger

BoG Provopoulos: Banks must pull the plug on non-viable companies

“Greek banks must let weak companies fail,”  George Provopoulos, governor of Greece’ central bank Bank of Greece told the Financial Times and added that consolidation of the economy should be encouraged, if the country is to return to sustainable growth. “Following such a deep crisis we need strong consolidation [of …

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ΕU approves Aegean Airlines – Olympic Air merger

Τhe European Union gave its blessing Wednesday to the merger of Greece‘s Aegean Airlines and its rival Olympic Air, saying that there would be no harm to competition since Olympic Air would have no choice but to shut down without the deal. The EU‘s executive, the European Commission, had once …

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Troika shuts down schools & kindergartens; more than 1,000 closed since 2011

A total 118 public elementary schools and kindergartens will be shut down this summer and another 29 will be merged after the Troika demands for “structural reforms”, “rationalization of state expenditure” – name it whatever you want. The 31 schools and 87 kindergartens to be shut down are located in …

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National Bank – Eurobank merger stopped; shares plunge -30%

The news fell like a bomb on Sunday night: that the much praised National Bank (NBG) – Eurobank merger was stopped by Greece’s international lenders, the Troika of EU, IMF and ECB representatives. Greek media reported that the Troika had objections about the size of the new bank to have emerged from …

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Greek Banks: No Merger Between Alpha and Eurobank

The first negative impact of the Greek bond swap (PSI): Greek Alpha Bank seeks to call off its intention to merge with EFG Eurobank. The merger would have created Greece’s largest bank and was seen as the first step in an expected consolidation of the Greek banking sector. Alpha Bank …

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Syros: Stones, Teargas and Chairs fly as students attempt to speak to the Greek PM (videos)

Teargas, stones, bitter oranges and even chairs flew in the air and clashes erupted between riot police and protesters on the island of Syros, as Highschool and University students attempted to speak to Greek Prime Minister George Papandreou , who was delivering a speech  -just  50 meters away. The clash …

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