Replies to post #7077 on National Bank of Greece ADR (fka NBGGY)

[George the Greek]

As to that point:

One lawyer:

“Even with an agreement between the government and Europe, bank senior debt may need to be bailed in,” said Michael Doran, a partner at law firm White & Case in London. “Additional recapitalization tools may also be required given the scale of the problems.” Doran worked on the restructuring of Cypriot banks in 2013

and

The country may merge Alpha Bank AE, Eurobank Ergasias SA, Piraeus Bank SA and National Bank of Greece, Reuters reported on Wednesday, citing unnamed officials."

but, refreshingly,

[Alternate Finance Minister Dimitris] Mardas said Thursday he wasn’t aware of any such plans.

Recapitalization and/or merger would make assessment of NBG value complicated (not that I ever found bank filings transparent or understandable generally).

http://www.bloomberg.com/news/articles/2015-07-10/greek-bank-restructuring-may-be-unavoidable-even-with-bailout