29 February 2016
Human Rights Council
Agenda item 3
Promotion and protection of all human rights, civil, political, economic, social and cultural rights, including the right to development.
Report of the Independent Expert on the effects of foreign debt and other related international financial obligations of States on the full enjoyment of all human rights, particularly economic, social and cultural rights on his mission to Greece*
By George Georgiopoulos
ATHENS | Mon Apr 8, 2013 7:27am
Shares of Greek lenders National Bank (NBGr.AT) and rival Eurobank (EFGr.AT) plunged by as much as 30 percent on Monday after they confirmed their merger deal had been halted and they are unlikely to raise the private capital they need to stay out of state hands.
National bought 84.3 percent of Eurobank via a share swap in February, with a view to absorbing it as part of broader consolidation in the banking industry to cope with fallout from Greece’s debt crisis and deep recession.
But the deal raised the concerns of the “troika” of the European Commission, European Central Bank and International Monetary Fund that it would create a bank too big relative to Greece’s economy and make it difficult to sell in future.
“Their admission that they are unlikely to raise the required 10 percent from private investors is quite negative (as) their shareholders may become owners of a nationalized bank,” said Maria Kanellopoulou, an analyst at Euroxx Securities. (more…)
The representatives of Greece’s lenders had a rather unpleasant encounter on Sunday: they came face to face with the famous Athens strays. Three, four doggies had taken position outside the finance ministry as the Troika moved to meet minister Yiannis Stournaras and check the pulse of Greece’s austerity progress.
Duel in Athens: Troikans against strays
Following some mysterious inner voice, the strays had gathered outside the ministry. They formed a chain of protest – ‘representative’ – so to say – for the millions of Greeks suffering from the harsh austerity and the never ending taxes.