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Author Topic: Greek bank shares continue to fall  (Read 637 times)
zenitzz
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August 05, 2015, 03:37:29 AM
 #1

Greek bank shares have fallen sharply for a second day in Athens, but non-financial firms have fared better.
The Athens General Index closed down about 1.2%. On Monday, the share index had dropped 16% on the first day of trading after a five-week shutdown.
Major banks were close to the maximum 30% declines they are allowed in one day, a limit that was hit on Monday.
Banks account for about a fifth of the Athens index.
Falling bank shares were offset by gains in some non-financial shares. Among the shares rising were the gaming group OPAP and some tourism-related shares such as Aegean Airlines.
The main share index is down more than 50% from last year's peak.
During the height of the Greek debt crisis, the stock exchange was closed for five weeks as part of the programme of capital controls to prevent people taking euros out of the country.
Greek investors are still not allowed to use money in their bank accounts to trade on the stock exchange.

read more : http://www.bbc.com/news/business-33774760
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August 05, 2015, 04:35:47 PM
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It may be a good time to invest in NBG, it has never been this low. It's really a 50/50 situation. If the Troika doesnt let Greece fall, whoever investing on NBG now will get pretty good returns, the problem is if the Greexit actually happens and your investment goes literally to 0. If you have something like 1K dollars lying around that you dont know where to put and you are already on Bitcoin, maybe a gamble with this may be a good investment if Greece recovers in the next 5 to 10 years.

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August 05, 2015, 05:29:09 PM
 #3

As long as Greece continues to spend and need another bail-out shares will never really gain. How much % are Greek banks paying. Turkish are paying 10%.
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August 05, 2015, 09:25:51 PM
 #4

It may be a good time to invest in NBG, it has never been this low. It's really a 50/50 situation. If the Troika doesnt let Greece fall, whoever investing on NBG now will get pretty good returns, the problem is if the Greexit actually happens and your investment goes literally to 0. If you have something like 1K dollars lying around that you dont know where to put and you are already on Bitcoin, maybe a gamble with this may be a good investment if Greece recovers in the next 5 to 10 years.

Just don't.  Don't throw money into a disaster hoping that someone else temporarily patches things up for you so you can sell at a profit. 

On the other hand, if you think that certain Greek companies are a good deal at these prices go ahead.
Damiantroll
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August 05, 2015, 09:49:15 PM
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I hope that things get better for Greece, because as of now they have to choose between an even worse financial situation or the castration of their sovereignty by the EU.

At least tourism will be cheaper in Greece for a while.

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August 05, 2015, 10:01:11 PM
 #6

It may be a good time to invest in NBG, it has never been this low. It's really a 50/50 situation. If the Troika doesnt let Greece fall, whoever investing on NBG now will get pretty good returns, the problem is if the Greexit actually happens and your investment goes literally to 0. If you have something like 1K dollars lying around that you dont know where to put and you are already on Bitcoin, maybe a gamble with this may be a good investment if Greece recovers in the next 5 to 10 years.

Just don't.  Don't throw money into a disaster hoping that someone else temporarily patches things up for you so you can sell at a profit.  

On the other hand, if you think that certain Greek companies are a good deal at these prices go ahead.

Well the question would come down to is would let every other euro nation that lend greece money let it fail as a country?

i mean their debt is effected their euro so wouldnt they eventually come to an cheaper solution to get some money back then none at all?

303.92 billion euros of debt.
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August 05, 2015, 11:25:47 PM
 #7

I hope that things get better for Greece, because as of now they have to choose between an even worse financial situation or the castration of their sovereignty by the EU.

At least tourism will be cheaper in Greece for a while.
No, it won't be cheaper, in fact on the contrary Geeks government to find additional money will rise taxes. First they will double VAT payed by Hotels and Restaurants from 6.5% to 13%.
In this situation I am sure we will see some drastical  increase of prices on everything even remotely connected to tourism.


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techgeek
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August 05, 2015, 11:34:01 PM
 #8

It may be a good time to invest in NBG, it has never been this low. It's really a 50/50 situation. If the Troika doesnt let Greece fall, whoever investing on NBG now will get pretty good returns, the problem is if the Greexit actually happens and your investment goes literally to 0. If you have something like 1K dollars lying around that you dont know where to put and you are already on Bitcoin, maybe a gamble with this may be a good investment if Greece recovers in the next 5 to 10 years.

Just don't.  Don't throw money into a disaster hoping that someone else temporarily patches things up for you so you can sell at a profit.  

On the other hand, if you think that certain Greek companies are a good deal at these prices go ahead.

Well the question would come down to is would let every other euro nation that lend greece money let it fail as a country?

i mean their debt is effected their euro so wouldnt they eventually come to an cheaper solution to get some money back then none at all?

303.92 billion euros of debt.


I really doubt that the other nations would lend any more money.

I just read a recent article that greece actually needs. Greece needs €95 billion in debt relief to avoid permanent depression — twice as much as the IMF says..

So they about get a depression alright, cause what country would lend 95 billion...

randy8777
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August 05, 2015, 11:38:03 PM
 #9

It may be a good time to invest in NBG, it has never been this low. It's really a 50/50 situation. If the Troika doesnt let Greece fall, whoever investing on NBG now will get pretty good returns, the problem is if the Greexit actually happens and your investment goes literally to 0. If you have something like 1K dollars lying around that you dont know where to put and you are already on Bitcoin, maybe a gamble with this may be a good investment if Greece recovers in the next 5 to 10 years.

Just don't.  Don't throw money into a disaster hoping that someone else temporarily patches things up for you so you can sell at a profit.  

On the other hand, if you think that certain Greek companies are a good deal at these prices go ahead.

Well the question would come down to is would let every other euro nation that lend greece money let it fail as a country?

i mean their debt is effected their euro so wouldnt they eventually come to an cheaper solution to get some money back then none at all?

303.92 billion euros of debt.


I really doubt that the other nations would lend any more money.

I just read a recent article that greece actually needs. Greece needs €95 billion in debt relief to avoid permanent depression — twice as much as the IMF says..

So they about get a depression alright, cause what country would lend 95 billion...

they will continue to lend greece billions and make fake promises that the tax payer will not lose out because greece will pay back every cent!!! what clown is still believing this crap. let greece fall, we won't see our money back, ever!
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