Morgan Stanley

According to market sources National Bank of Greece (NBG) is planning to sell 100% of its stake in Turkish bank ‘Finansbank’. The same sources says the goal is to sell the shares of the Turkish bank at least double its ‘book value’, which corresponds to 3.8bln Euros. The pending ‘stress tests’ on the Greek banking system lead the management of the Greek bank to reevaluate its business plan.

Developed market stocks fell on Sept. 18 and bonds rose, pushing yields sharply lower, after the U.S. Federal Reserve cited weakening global growth and the recent upsurge in financial market volatility as its reasons for not raising interest rates.

Bulgaria "has found itself under unwelcome scrutiny from financial experts and Western banks worried that Greece's troubles could spread havoc farther afield," the New York Times writes in an article on Bulgaria.

The chief executive of Wall Street investment bank Morgan Stanley does not expect Greece to leave the eurozone, he told a German paper, but warned of the political impact that would follow such a scenario.

Bulgaria is potentially exposed to a Grexit contagion more than its neighbors in Southeast Europe, a Morgan Stanley report argues.

"While the direct economic impact of a Grexit looks manageable, we think that the banks are by far the most serious potential channel of contagion," Morgan Stanley Research analysts are quoted as saying, in a Bloomberg article authored by Slav Okov.

By Isobel Finkel

Finansbank, the Turkish lender owned by National Bank of Greece, has delayed a planned secondary public offering that must be held this year to cut the Greek investor?s stake in line with a European Commission agreement.

By David Goodman & Lucy Meakin

As Morgan Stanley strategists give up on Greek sovereign bonds, there's at least one investor who says he's determined to ride out the storm.

By Stefan Riecher

The European Central Bank kept interest rates unchanged at record lows as investors wait for President Mario Draghi to reveal more details of his 1.1 trillion-euro ($1.2 trillion) bond-buying plan.

By David Goodman

As if Mario Draghi doesn't have enough problems already.

Europe is trying to avert a crippling bout of deflation. Germany wants austerity and less stimulus. And Greece is demanding to renegotiate the terms of its bailout, a move that has revived the risk of the euro area splintering.

By John Geddie

Another round of Greek debt relief could make the country's bonds a safer investment than those of several other eurozone countries, a major US bank has told its clients.