The four largest banks in Greece have questioned for government support as investors continue to go their funds out of the financially-troubled country.George Papaconstantinou, Greece’s finance minister, has announced that the banks “have questioned for access to the remaining funds of the support plot”, reports the Financial Times.The €28 billion ($37 billion) support plot was originally drawn up in 2008 at the height of the credit crunch.National Bank of Greece, EFG Eurobank, Piraeus Bank and Alpha Bank have now requested around €17 billion in loan guarantees and special bonds.
Posts Tagged ‘Government Support’
Greek banks seek government support as investors flee
April 8th, 2010 
Before You Invest 
Posted in Finance Fraud 
Tags: Alpha Bank, Bank Of Greece, Banking System, Banks In Greece, Bonds, Citizens, Credit Crunch, Efg Eurobank, Finance Minister, Financial Times, Fitch Ratings, Government Support, Greek Banks, International Concern, Loan Guarantees, Months Of The Year, National Bank Of Greece, Piraeus Bank, S Central, Sum Of Money 
Comments OffDubai to Provide $9.5 Billion to Help Dubai World
March 25th, 2010 Before You Invest The government of Dubai will place up to $9.5 billion into Dubai World and its subsidiary Nakheel PJSC to help them restructure debt, Dubai World said Thursday.The Nakheel bonds falling due this year and next will be paid, Dubai World, which is the chief investment vehicle for Dubai, said in a statement.Nakheel, the company’s real estate development unit, will receive about $8 billion in the new government funds.In a statement, the unit said it would “work with its creditors over the coming weeks to secure agreement for the recapitalization plot.
Posted in Finance Fraud Tags: Abu Dhabi, Bonds, Chief Executive, Chief Investment, Chris O Donnell, Creditors, Dubai, Four Months, Government Funds, Government Help, Government Support, Investment Vehicle, Mature, Pjsc, Real Estate Development, Recapitalization Plan, S Real Estate, Subsidiary, Term Projects, World Government Comments OffChicago Fed shows recovery gaining momentum
December 2nd, 2009 Before You Invest (AP) — The economic recovery gained traction in late fall as shoppers spent a bit more and factories bumped up production. That assessment Wednesday by the Federal Reserve marked its most upbeat view since the economy tumbled into recession two years ago.The Fed’s new snapshot of business barometers nationwide found that conditions have generally improved since the last report in late October.Eight of the Fed’s 12 regions surveyed reported some pickup in activity or improved conditions, the Fed said.
Posted in Finance Fraud Tags: Ben Bernanke, Boston New York, Capitol Hill, Chicago Fed, City Dallas, Economic Recovery, Fed Chairman, Fed Survey, Gaining Momentum, Government Support, Key Bank, Leeway, Massive Job Losses, Minneapolis Kansas, Private Economists, Recession, Record Lows, Second Term, Unemployment Rate, Upbeat View No Comments »International Monetary Fund now estimates global bank losses at $3.4 trillion
November 8th, 2009 Before You Invest The International Monetary Fund (IMF) has reduced its estimate of global bank losses by $600 billion – but warned the new figure of $3.4 trillion could rise further due to high unemployment rates across the world pushing up loan losses.Rising security values combined with a new way of calculating losses are to thank for the improvement on the original $4 trillion deficit calculated in April.But the IMF says that around another $1.5 trillion worth of loan writedowns will hit banks by the end of 2010.
Posted in Finance Fraud Tags: Banks, Brink, Earnings, Economic Recovery, Financial Institutions, Financial Meltdown, Global Bank, Global Financial Stability, Global Financial Stability Report, Government Support, Imf Report, International Monetary Fund, International Monetary Fund Imf, Jose Vinals, Loan Losses, Policymakers, Public Purse, Reuters, Trillion, Unemployment Rates No Comments »
