Qatar invests in Greek banks

Published on 30 August 2011 at 11:45

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Ta Nea, along with the rest of the Greek press, delightedly reports on what amounts to an "interbank honeymoon" in the wake of the "marriage of the year": the merger of Alpha and Eurobank, the second and third largest Greek banks, assisted by a cash injection from Qatar, which is "the largest foreign investment in Greece in years." The 29 August announcement of the merger was particularly well received by the markets, with the Athens stock exchange gaining 14%. "Thanks to the support from Qatar which has provided 500 million euros for a 17% stake, the new entity will now become the largest bank in Greece and the Balkans. The merger will also pave the way for the opening of the Greek banking sector," explains Ta Nea.

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