Greek Premier in Favor of Cross-Border Bank Takeovers
(Bloomberg)-Greek Prime Minister Kyriakos Mitsotakis said that he was in favor of the consolidation of the border bank in Europe and welcomed the investment of Unicredit Spa in Alpha Bank sa.
Mitsotakis, Bloomberg News Chief editor John Micklethwait in an interview on Friday, “If we really mean what we say about the creation of a scale in the Banking Union, we should be open to such processes,” he said. “In principle, we are in favor of these transactions and I am happy that Unicredit decides to look at one of our banks and take an important feeling.”
Unicredit did not say that after Friday, the holding of approximately 26 billion € to about 26%of the Holding of Alpha Bank would take back a full inheritance.
Greece is leading a wider movement to return bail lenders to private property by European governments, and unlike some countries, foreign investors are taking great risk. Bank of Greece Governor Yannis Sournaras said that at the beginning of this month, Bloomberg was in favor of more cross -border transactions and hoping that such agreements would be valid elsewhere.
Uz We receive a very pro -European opinion that helps to implement the Banking Association and the Capital Markets Union, ”he said. “We are with us from cross -border transactions, and I hope this will be valid elsewhere.”
The Greek financial industry is recovering about one -quarter of the country’s debt crisis ten years ago. The Mediterranean country regained the investment grade ratings by allowing similar developments to the lenders of the country. In more than a year, Greece came out of three major lenders and was largely fourth.
In contrast, the German and Italian governments have opposed Unicredit and Unicredit’s Commerzbank AG and Banco BPM SPA since the German and Italian governments have dropped the Banco BPM offer. Some Italian officials in private suspects the proposed asset management bond between the country’s largest insurance company Assicurazioni Georian SPA and France between BPCE SA.
Banks in Greece began to buy abroad in Cyprus. This year, Eurobank SA is in the process of taking over the Astrobank, a Cyprus -based lent, while Alpha Bank’s Alpha Bank’s Fully Bank of Cyprus.
As Greece continued to heal, Mitsotakis’s government focused on attracting foreign investments and repeatedly emphasized the country’s improved financial position.
Mitsotakis, “We produce important primary surplus, and I think it is possible to have a real surplus again this year. This is a basis of our economic policy,” he said.
(Updates with comments made from the second paragraph.)
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