Your posts serve as reminders/ heads-up for things announced, but not given enough attention/ thought. Thank you.
The throwback to early 2010's is...touching. The bankscape was different then, with 15 lenders or so, and the small ones indeed paid 5%-7% for term deposits. Later the system integrated and consolidated to 4-5 banks, and this wild-west competition ceased.
Banking consolidation was the big drum Provopoulos was constantly banging around the time that I first moved to Greece. I guess the collapse of the NBG-Eurobank merger (when the troika said "enough") was the turning point.
The rise of Piraeus Bank – and Michalis Sallas's subsequent fall from it – is a fascinating sub-plot of the whole crisis.
Hi Marcus, I was sure you are a man of culture. Indeed, various sagas, grand and small (proton bank also comes to mind), were at play and you joined the fray right on time. 🙂
Hey Marcus,
Your posts serve as reminders/ heads-up for things announced, but not given enough attention/ thought. Thank you.
The throwback to early 2010's is...touching. The bankscape was different then, with 15 lenders or so, and the small ones indeed paid 5%-7% for term deposits. Later the system integrated and consolidated to 4-5 banks, and this wild-west competition ceased.
Thank you very much Michali.
Banking consolidation was the big drum Provopoulos was constantly banging around the time that I first moved to Greece. I guess the collapse of the NBG-Eurobank merger (when the troika said "enough") was the turning point.
The rise of Piraeus Bank – and Michalis Sallas's subsequent fall from it – is a fascinating sub-plot of the whole crisis.
Hi Marcus, I was sure you are a man of culture. Indeed, various sagas, grand and small (proton bank also comes to mind), were at play and you joined the fray right on time. 🙂