Greek banks and foreign investors

Alpha Bank's deal with Italy's second largest bank, UniCredit, was a touch of optimism in the gloomy environment of very low expectations that currently dominates the Greek economy.

Based on the deal, Alpha Bank will sell its subsidiary in Romania to create the neighboring country's third largest bank, in which it will own a 9.9% stake and from which it will draw guaranteed income without other obligations - a good alternative, as times are difficult for everyone, with hidden and overt threats, and no funds left for autonomous growth.

Very importantly, Andrea Orcel, group CEO of UniCredit, stated that the bank is interested in buying 9% of Alpha from the state-controlled bank bailout fund HFSF. Thus, with the entry of another major foreign investor into Alpha, the possible combinations of shareholders for acquiring a strategic stake in the bank increase and the bank's...