They are re-evaluating the Alpha – Eurobank merger…

Yannis Costopoulos and Nikos Nanopoulos, of Apha Bank and Eurobank respectively, are thinking of resuming talks about the merger of the two Greek banks and since Monday morning, things have been looking very intense as neither of the two men has clarified his intentions.

The main concern of both sides is the loss of the Greek bonds as a result of the PSI agreement, and sources are reporting they are even considering exchanging bonds between them.

A high-ranking banker is cited as saying: “Now bankers are less preoccupied as the privatization was avoided. On top of that, the BlackRock report is milder compared to the rumours circulating in the beginning.”

Venizelos: No new or different development connected to the PSI

The Greek Finance minister Evangelos Venizelos, speaking on the issue, said that: “The government welcomed the news of the merger, believing it is a very important step towards the reconstruction and reinforcement of a competitive Greek banking system.”

Both banks’ administrations have supported the relevant decisions made late last year and are closely monitoring all developments connected to the PSI. Furthermore, all involved parties are carefully “reading” the IIF/SC announcements concerning the Greek side, and in particular the wellbeing of local capital adequacy after they have entered the new financial era.  

Earlier on, protothema.gr had reported the negotiations seemed to have reached a dead end, with a high-ranking official stating that “anything is possible, nothing is tangible at the moment.”