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ATEbank

Piraeus Bank Selling Its Insurance Branch

Piraeus Bank has agreed to sell its ATE Insurance branch to Ergo Insurance Group for 90.1 million euros. Ergo Insurance is the subsidiary of German reinsurance company Munich Re. In July 2012, Piraeus Bank bought the healthy part of ATEbank,...

Bank of Greece Acquires Eurobank

With Greek banks still reeling from big losses imposed by the government in a desperate bid to write down its staggering $460 billion debt, shareholders at Eurobank have voted to accept a buyout offer from the National Bank of...

Prosecutor Probes New Democracy, PASOK Loans

While banks are pressing austerity-crushed Greeks to pay back their loans in full despite big pay cuts, tax hikes and slashed pensions, prosecutors are probing why the New Democracy and PASOK Socialist parties who are partners in a coalition...

New Democracy, PASOK, Can't Pay Bank Loans

As Greece struggles through a crushing economic crisis with many people unable to pay debts because of big salary cuts and tax hikes,  the two parties that ruled Greece for four decades before this year’s elections produced a coalition...

German Magazine Brands Tsipras EU Enemy Number 1

ATHENS - Greek Coalition of the Radical Left (SYRIZA) leader Alexis Tsipras, whose party is the main opposition to a new Greek coalition government and has been a firebrand against austerity measures, is the most dangerous politician in Europe,...

Greece Finds the Answer – Arrest All Debtors (If They’re Poor)

ATHENS -  Not content with taxing the poor to protect the rich, Greece is putting the arm on the penniless, starting with the arrest of an unemployed Cretan father of seven, whose wife was also jobless. He owed the...

Alpha Bank Offers to Buy Emporiki

Greece's Alpha Bank says it has made an offer to French lender Credit Agricole to buy its Greek subsidiary, Emporiki Bank. A statement from Alpha Bank Tuesday said it had made an offer to buy all the shares in Emporiki...

Piraeus Bank Takes Over Ailing ATEbank

ATHENS – The Greek government has agreed to hand over the performing loans and healthy assets of nearly-insolvent state-run ATEbank to the privately-run Piraeus Bank to keep it from closing, but the toxic assets will be given to the...