It’s unbelievable, and yet Greece – a $50 billion HFSF loss from banks – would win if its market capitalization was $835 billion.

We know that the Greek government will suffer a loss of 50 billion euros from the Greek banks, they invested 54 billion and will recover about 4 billion.
Eurobank has already started buying back 1.4% of shares instead of 80-82 million, that is, the Financial Stability Fund invested $10 billion and got back 82 million.
Financial stability was the goal, as the Financial Stability Fund says, to justify the loss…
But the counterargument is that the state also intervened in the United States in 2008 and 2009 to ensure systemic stability, recapitalized banks and insurance companies, and then finally sold them, making $42 billion.
Obviously there are arguments…and counter-arguments.
To prove that the entire state investment – the Financial Stability Fund was a tragic mistake in terms of investment… We did a simple job…
The Greek government is withdrawing its investments from banks with a total market value of 17.3 billion euros and will suffer a loss of 50 billion. The concept of divestment means that I accept the concept of investment and the concept of investment means that I invest to win, do not lose…
At what market value for Greek banks might the Financial Stability Facility win?
The answer is shock and horror.. 835 billion euros had to equal the value of Greek banks on the stock market so that the Greek state would not suffer a loss..
To be precise, with a market capitalization of 835 billion, he will not suffer a loss… He will get back the money he invested…

More specifically

In Eurobank, which holds 1.4%, the HFSF invested $10 billion and would have had a market capitalization of $714 billion to gain from $5.64 billion, which is the current market capitalization.

In the National Bank, which owns 40.3%, the HFSF invested 9 billion and had to have a market capitalization of 22.5 billion to gain from 5 billion, which is the current market value.

In Piraeus, which has a 27% stake, the HFSF invested 15 billion and had to have a market capitalization of 55 billion to gain from 3.5 billion, which is the current market value.

In Alpha Bank, which holds a 9% stake, the HFSF invested $3.96 billion and would have had a market capitalization of $44 billion to gain from $3 billion, which is the current value of capital.

How do the funds that the Fund invests in banks originate?

Take, for example, the $10 billion in Eurobank

Capital: 5.72 billion
$3.7 billion funding gap at Postal Savings Bank
562 million in financing gap at Proton Bank
Eurobank bought the good banks from the division of Postal Savings Bank and Broughton Bank

Let us remember some facts.

HFSF invested
to $8.46 billion in national funds,
To the European Bank 5.72 billion,
In Piraeus 6.84 billion and with it 3 billion Kokos 9.84 billion and
For Alpha Bank 3.96 billion

The HFSF also covered the financing gap of banks, which was divided into good and bad.
We mention 7.47 billion in the Agricultural Bank ended in Piraeus, in the Postal Savings Bank 3.7 billion ended in Eurobank, in Proton Bank 562 million ended in Eurobank, in FBBank 456 million ended in the National Bank and a number. From cooperative banks.
The total of these 54 billion euros…

What is the current value of shares held by the HFSF in Greek banks?

The HFSF now holds the following percentages in Greek banks
1.4% of Eurobank, worth 79 million
40.34% of ethnicities worth $2 billion
27% of Piraeus, worth €937 million
9% of Alpha Bank, worth 278 million
The total is 3.3 billion euros…and 54 billion euros have been invested.

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