Greek banks bid for Crédit Agricole unit – FT.com

 

Crédit Agricole (cycling team)

Crédit Agricole headquarters : 91-93 boulevard...
Crédit Agricole headquarters : 91-93 boulevard Pasteur, Paris 15th arr., France (Photo credit: Wikipedia)

This is a very interesting story reported in the FT. Check it out!

Greek banks bid for Crédit Agricole unit – FT.com.

What really caught my attention was the following comment in the FT article:

Crédit Agricole’s €23bn of Greek loans make the French lender the foreign bank with most at risk should Greece leave the euro.

Personally, I was encouraged that three major Greek banks are ready to go head-to-head to buy Credit Agricole’s Greek subsidiary. Clearly the Greek banks think that it’s a good investment, so perhaps they can see better times ahead in Greece?

Clearly for Credit Agricole and the French Government, the $23bn of dodgy Greek loans are a major embarrassment.

What do you think of this story?

 

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Chinese inflation falls to 1.8% – FT.com

 

GDP distribution in mainland China in 2007. Sm...

GDP distribution in mainland China in 2007. Small dots indicate RMB10bln, medium dots indicate RMB100bln, large dots indicate RMB500bln. All values annual. (Photo credit: Wikipedia)

The FT reports on some good economic news from China. Check it out!

Chinese inflation falls to 1.8% – FT.com.

With Europe in recession because of the Euro crisis and the US still struggling because of absence of stimulus from the Fed ahead of the US Presidential election, all eyes are focused on China. Fortunately for the World, China has two advantages:

  1. A number of policy options to stimulate the Chinese economy, and
  2. A government strong enough and focused enough to take decisive action

 

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