Greek Bank Announces Plan to Recover from Bailout
Eurobank, one of the four Greek banks bailed out by the European Union and the International Monetary Fund in the wake of Greece’s debt crisis and that country’s third-highest lender, announced today a €2-billion issue of new shares set to occur by the end of the year. (€2 billion is approximately $2.7 billion, as of the time of writing.) This stock sale is part of the bank’s plan to return to private ownership after the 2012 bailout.
What do you think about Greece’s recovery? Is it time to celebrate, or do the country and its banks still have progress to make? Comment below.