Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
Greek Banks' Non-Performing Loans Hit 43%; Only €14 Billion Recapitalization Needed?
Only €14 Billion Recapitalization Needed? On November 1, I noted Greek Banks Need €14 Billion Recapitalization Following Latest Stress-Free Tests.
My comment was "Greek banks did much better than expected in the latest ECB stress test (undoubtedly stress-free). The ECB's adverse scenario shows Greek banks only underfunded to the tune of €14 billion."
Greek Banks' Non-Performing Loans Hit 43%
Reader Lars from Norway just emailed regarding recent interview in Germany with former Greek finance minister Yanis Varoufakis that strongly suggests that €14 billion recapitalization number is pure fantasy.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
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