New announcements concerning the increases of the share capital of NBG and Eurobank were issued by the opposition party.

SYRIZA’s statement:

The actions of the government and the FSF on the increase of the share capital of Eurobank constitute a premeditated crime against the property of the Greek people, in order to enrich private speculators at the expense of Greek taxpayers once more.

This is a crime at a bargain price, since the EFSF, in view of the increase of the bank’s share capital, signed an agreement with a group of institutional investors for raising capital for a share price of 0.30€, i.e. 75% cheaper than what it cost the public, and even a lower price than the current market price. It should be noted that with the 2.8 billion of the increase, 50% + 1 share will be given to private investors, when the whole cost for the FSF for the acquisition of 94% of Eurobank was over 11 billion.

Also, by law, if private investors participate in a capital increase by 50% or greater, the FSF essentially loses voting rights, i.e., in practice, the State will have no vote on the substantive issues of management and operational control of the bank.

The big question that arises, is whether, as rumoured, the same trick is being prepared for National Bank, which cost the Greek state much much more. SYRIZA is absolute in its stance that banks, who have been recapitalized by public money, belong to the Greek state and should be put under public scrutiny.

We should also warn that all actions and decisions will be investigated thoroughly by a left-wing government, in order to assign responsibilities and request immediate restoration of the damaged Public sector.