National Bank of Greece ADR (fka NBGGY)

[yannigr]

There is a fear that the Europeans are taking advantage of the situation, either to put a kind of control in about everything with the excuse of protecting their investment (you can't call aid something with a 5% interest), or some Europeans just want Greece out of the Eurozone, so they just continue to ask for more and then even more.
The truth is that the three political parties after accepting the new austerity measures all lost in popularity. In the last poll all three parties that support Papadimo's government are down. So maybe the Europeans see the possibility that they will have to talk to someone else after the elections, someone who doesn't agree with the plan and hasn't sign anything. The funny thing is that, the more they push for more guaranties the more they do damage to the political parties that support Papadimo's government, the more they help the other parties to gain more popularity. Unfortunately Papadimos also is becoming a huge disappointment. He just doesn't seems to take any initiatives and he looks more like a puppet in the hands of the politicians. You really don't know if he is there.
Last but not least they see now the country's debt in 2020 at 129% from 120% that they hoped. Well, everyone was expecting this one.

NBG is at 2.55 (+0.39%). I was hoping that the (mild) drop would last only for 1 or 2 days, Monday and Tuesday. Unfortunately the postponing of Eurozone and the more guaranties that the Europeans ask are making things really really bad and the investors more and more nervous. It could go lower. I don't know.

One last thing. It is not perfect but it is much more accurate than the negative propaganda from many news networks
http://d24w6bsrhbeh9d.cloudfront.net/photo/2681884_700b.jpg


jmho
have a nice day