During last November it was attempted to lead Piraeus Bank, the largest bank in Greece, to a resolution without, though, succeeding, since the management of the bank acted immediately. In this way, some people tried to directly take control of a large part of Greek economy and domestic entrepreneurship.
Hedge Fund and its colleagues after losing the battle in November, they tried to take control of Piraeus Bank through fully controlling bank’s Board behind-the-scenes.
Paulson Co. probably wants to manage undisturbed 90 billion euros of Bank’s assets and to control the fate of the Greek businesses.
Up to now, the Board and President of Piraeus M. Sallas are trying to resist, but it is unknown until when they will be able to withstand the pressure and manipulations practiced by this group.
It seems that once more Europeans were caught napping. They actively supported the banking system of Greece providing capitals and liquidity, which were taken by Americans and a Hedge Fund behind-the-scenes.