Recently, the main narrative that Greece has returned to the investment stage and its economy is now investable has been increasingly promoted. While every Greek would feel proud if indeed the Greek economy was investable since attracting international capital is health\u2026 however, certain truths have been deliberately hushed up\u2026<\/p>\n\n\n\n
What are these truths that are deliberately hidden?<\/strong><\/p>\n\n\n\n 1.<\/strong> An economy is not investable when the Greek government needs to intervene to almost beg UniCredit to increase the price for Alpha bank 13.6 million from 1.33 to 1.39 euros\u2026<\/p>\n\n\n\n 2.<\/strong> An economy is not investable when in the placement of the National Bank of Greece it was presented that there was an influx of foreign investors, but 7 of the 10 largest foreign investors of the particular bank were already investors, no new people came, they just found the opportunity to make easy money\u2026<\/p>\n\n\n\n 3.<\/strong> An economy is not investable when it sells assets with a loss of 21 billion euros and collects 1.45 billion. We are only referring to the executed operations since in March 2024 Piraeus Bank will follow where the loss will reach 18 billion.<\/p>\n\n\n\n 4. <\/strong>An economy is not investable while showing 402.87 billion public debt \u2013 in terms of central administration of which 88 billion bonds of which 40 billion is owned by the ECB and owes 233.8 billion in support mechanisms and the state to to support provisioning is burdened with short-term loans \u2013 repos of 48 billion euros. And for all this Greece, having only 48 billion of freely negotiable debt, shows the second worst performance in the eurozone in terms of borrowing costs Greece 10-year bond 3.74% and Italy 4.33%.<\/p>\n\n\n\n 5.<\/strong> An economy is not investable when it has reduced the investment grade to the national target\u2026 but continues to pay dearly for government and corporate debt issuance. Fitch will upgrade Greece to investment grade on December 1st, an equally indifferent process now\u2026<\/p>\n\n\n\n 6.<\/strong> An economy is not investable when in terms of even speculation as defined in the stock market\u2026 the investment grade brought a rise of only 15%\u2026. The Greek stock market at around 1,250 units has recovered from the 950 units of the past but an economy that her Greek politicians are talking about a total reset\u2026 the 15% increase due to investment grade is nothing big?<\/p>\n\n\n\n 7.<\/strong> An economy is not investable when it is still struggling with 65 billion NPEs, 110 billion debt to the tax office, manufactured real estate bubbles and at least 42 billion tax evasion.<\/p>\n\n\n\n Greece is a weak economy, vulnerable to speculation, which is selling out to attract so-called foreign capital which will soon leave because it is already reaping profits\u2026<\/p>\n\n\n\n These investments do not produce any added value\u2026 in Greece, they offer capital gains to foreign investors and well but not to the Greeks\u2026<\/p>\n","protected":false},"excerpt":{"rendered":" Recently, the main narrative that Greece has returned to the investment stage and its economy is now investable has been increasingly promoted. While every…<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[859,5,961],"tags":[1983,25,146,4699],"class_list":["post-16338","post","type-post","status-publish","format-standard","hentry","category-economics","category-economic","category-financial-economics","tag-economy","tag-eu","tag-greece","tag-investment-grade"],"_links":{"self":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16338","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16338"}],"version-history":[{"count":1,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16338\/revisions"}],"predecessor-version":[{"id":16341,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=\/wp\/v2\/posts\/16338\/revisions\/16341"}],"wp:attachment":[{"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16338"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16338"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.liberalglobe.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16338"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}