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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