Grivalia

Eurobank is putting its fourth portfolio of properties up for sale in the context of a broad program for relieving its financial report of the burden of real estate assets; they amount to 5,100, not including those of former subsidiary Grivalia. The portfolio sale constitutes Eurobank's biggest to date.

Morgan Stanley sees that while steps have been taken to drastically reduce Greek banks' bad loans, several obstacles remain in their way. The international bank's report on Monday followed meetings between Morgan Stanley officials and representatives from the country's four systemic banks, as well as from Grivalia, the Bank of Greece and the Hellenic Financial Stability Fund.

The euphoria over the Eurobank-Grivalia merger lasted just a few hours at the Greek bourse on Monday, as concerns over next week's rebalancing of the MSCI index, which may trigger a further outflow of investors, curtailed early gains and led the banks index into negative territory.

Greece on Tuesday pushed back to August 1 the deadline for the submission of bids for the construction and operations of a freight center with access to the national railway network and its largest port in Piraeus, Greek railways said.