Share

Greece seeks to reassure bank investors

Athens - Greece's new government will meet shareholders from Eurobank, the country's second-biggest lender, on Friday to discuss the bank's future, Deputy Prime Minister Yannis Dragasakis said on Wednesday, after a dramatic fall in banking stocks.

Greek financial shares plunged by more than 26% on Wednesday as investors took fright at prospects of a prolonged standoff between Athens and its European partners which could worsen deposit outflows and threaten bank liquidity Shares in Eurobank closed down 25.93%.

Dragasakis, who oversees the government's economic council, played down the significance of the moves, saying that market turbulence was to be expected with the entry of a new government.

"This government wants the smooth operation of the banks and a rise in their share price," he told reporters after a meeting with Prime Minister Alexis Tsipras.

"We are open to hearing ideas and proposals from private shareholders to strengthen banks and improve their position," he said, ruling out any intervention that would weaken the position of private shareholders.

"The Greek state will exercise its rights in the banks without hurting the interests of the private shareholders."

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.87
+0.3%
Rand - Pound
23.84
+0.3%
Rand - Euro
20.38
+0.3%
Rand - Aus dollar
12.32
+0.2%
Rand - Yen
0.12
+0.2%
Platinum
908.05
0.0%
Palladium
1,014.94
0.0%
Gold
2,232.75
-0.0%
Silver
24.95
-0.1%
Brent Crude
87.00
+1.8%
Top 40
68,346
0.0%
All Share
74,536
0.0%
Resource 10
57,251
0.0%
Industrial 25
103,936
0.0%
Financial 15
16,502
0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders