Saturday , January 23 2021

The situation of Greek banks is deteriorating

A detailed article on the problems faced by Greek banks is published in the financial newspaper Handelsblatt under the title "The situation of Greek banks is deteriorating." Among other things, the Greeks should be accustomed to the image of fewer ATMs in the country, such as "[…] their banks begin the cuts. The removal of cash is particularly expensive for banks. Since 2010, clubs have reduced the number of ATMs from 8,650 to 5,300. Now they even restrict the network. "

According to the United Kingdom, "this is not the only measure by which Greek banks try to reduce their expenses, everything is being carefully attended: branches, staff, salaries, hours of work." After eight and a half years, Greece could leave in August. of the European support program, but for the Greek banks the crisis has not yet ended, the sector faces radical changes, "said the newspaper, referring to the high percentage of unprofitable loans that in the middle of the year It was about 48% and in the continuous reduction of the volume of groups.

Referring to the changes that the four systemic banks of Greece should launch urgently to ensure their survival, Handelsblatt notes that most of them affect the Piraeus Bank, which during the crisis bought six smaller banks, bringing the fourth to the largest bank of the country "However, with the mergers, Pireo inherited a large number of employees, branches and a mountain of red loans," which, according to the newspaper, intensifies the pressures for cuts and costs.

However, the whole debate in Piraeus shows that difficult times are coming to the bank's employees, the financial newspaper concludes. "According to an unofficial industry case, the four big banks will have to close another 800 branches and dismiss 10,000 workers in the next three years." Until recently, banks were running voluntary redundancy programs, offering a single amount of up to 180,000 euros, this time the terms will probably not be as favorable as the industry says that, given the pressure to reduce costs, layoffs are no longer taboo .

Even the subject of the mergers can go back to the agenda. In recent years, several attempts have been made, with a recent example of 2012 with the National Bank of Greece and the Eurobank, which were shortly before the agreement but eventually collapsed. Analysts have long argued that a country like Greece with a GDP of around 185,000 million euros is too small for four banks to operate throughout the country.

As Bayern became Bayern due to Greece

On the occasion of the 100th anniversary of the establishment of democracy in Bavaria, the Tageszeitung newspaper is published with a special edition. This article published, among others, an analytical article that refers to the relations between Bavaria and Greece from the days of Otto to the present day. "Bavaria and Greece have a close relationship between Bavaria and Greece for more than 200 years." The change of letter from i to y (from Baiern to Vaimern) shows the verdict of being true. The reasons are also the war of many German media against Greece. "

The article talks about in detail to the historical facts, as of 1832 when the boy Otto de Bavaria became king of Greece. At that time, the love of Greece and the Greek element was so great that it had renamed Bavaria: "The most direct connection to Greece is probably the letter U in the name of Bavaria. The letter was replaced by letter B of the Greek alphabet. he became Bayern to highlight the connection with Greece. "

The article then refers to the current relationship between the Bavarians and the Greeks, and especially in the years of the crisis through the eyes of a homosexual who was born and grew up in Munich: "The beginning of sentimental change was in 2010. For many years there has been a campaign against The media The Greeks were lazy and greedy, says Stavros Demetriou, who has changed a lot even for those who have grown up in Germany and have always felt well integrated into German society: "You do not feel that you belong here. […] I do not see any future for me in Germany, I no longer feel that it is connecting with this country, "he concludes." My plan is to emigrate to Greece. "Then the new king Otto returned after 30 years of mandate. After two Uprisings against him, he sent him into exile. In Bavaria, "writes the newspaper.

Alexandra Kosma

Source: Deutsche Welle

Source link