Op-ed: A private solution for the banks
Two of the foremost Greek banks, Alpha Bank and Eurobank, are merging to become the largest lender in the country. They anticipate joint profits of 2 billion euros while recording 1 billion in losses caused by Greek national debt.
A fund from Qatar will issue 1.75 billion euros in shares in order to take possession of 17% of the group. It already owns 4% of Alpha. This investment, alongside Buffet's investment in Bank of America, could prove that today's situation is very different from the doubt experienced in 2008.
Now there investors are ready and more prepared to find opportunities in the financial sector. High private deals margins reduce broader fear that the banking sector is in trouble.