Greek Bank Head Took Secret Loans to Finance Bank Stake
Greece’s fiscal troubles seemed to grow deeper with the revelation that companies owned by Piraeus Bank’s chairman and his children took out secret loans from a rival bank to pay for Piraeus shares.
European Bank Recapitalization Unimpressive: Analysts
European banks seeking to recapitalize and meet new goals set for them by regulators are seeking to do so largely through internal actions than by raising outside funding from investors, and analysts are not impressed by the method.
EU Hints Greek Bondholders May Get Stung With Sharper Losses
Those institutions and investors holding large quantities of Greek bonds may be in for bigger losses than an originally agreed-upon deal provided for, according to hints from European finance ministers who met Monday to discuss Europe’s ongoing debt crisis.