"When it gets serious, you have to lie," were the infamous words of one J-C Juncker and today - following the 40-50% collapse in Greek Bank equity capital this week,ECB's Bank Supervision boss Nouy has come out to calm everything down:
- *NOUY SAYS GREEK BANKS ARE 'PRETTY STRONG', HAVE STRENGTHENED THEIR BALANCE SHEETS
- *ECB'S NOUY SAYS GREEK BANKS WILL SURVIVE CURRENT CRISIS
Which, translated for the elites means, "sell-sell-sell." And then - just to add even more pressure, S&P puts Greece on Watch Negative.
- *S&P SAYS GREECE 'B/B' RATINGS MAY BE CUT ON POLICY UNCERTAINTY
Greek bank stocks down 40-50% this week
[5]
The Greek banks were already in trouble anyway... [6]
[7]
European Central Bank Supervisory Board Chair Daniele Nouy says in interview with Bloomberg Television that:
while Greek banks are facing a difficult situation now they are “pretty strong.”
“A lot of good work has been done to strengthen their balance sheets during the last years. So I think that they will go through this crisis like they went through the previous ones”
“They need to manage, in a conservative fashion, their liquidity positions. That’s the main focus right now and they are doing it. There is no doubt about that”
“I am following them like a supervisor during a situation that is not as exactly business as usual”
* * *
