NBG - National Bank of Greece (ADR) NYSE Stock

[BadThad]

Risky play, but good potential upside if Greece gets bailed out. I like the low stock price, easy to leverage a lot of shares. PE is only 4.21 where banks average about 22.45!

National Bank of Greece (ADR): NYSE:NBG quotes & news - Google Finance

Current stock price: $2.79

[b_radlewis]

Originally Posted by BadThad

Risky play, but good potential upside if Greece gets bailed out. I like the low stock price, easy to leverage a lot of shares. PE is only 4.21 where banks average about 22.45!

National Bank of Greece (ADR): NYSE:NBG quotes & news - Google Finance

Current stock price: $2.79

I agree with you. It is risky but there is a lot of potential gain. I might just take a position.

[BadThad]

Wish I would have when I posted, it closed at $2.98. I could have nabbed a $0.20/share easy profit today.

I'm sure this is going to take off once a resolution of the problem is announced.....and I'm certain there will be some sort of resolution. I think I'll take a modest, speculative position tomorrow.

[b_radlewis]

Originally Posted by BadThad

Wish I would have when I posted, it closed at $2.98. I could have nabbed a $0.20/share easy profit today.

I'm sure this is going to take off once a resolution of the problem is announced.....and I'm certain there will be some sort of resolution. I think I'll take a modest, speculative position tomorrow.

There most likely will be some form of a bailout for Greece but my only question is when.

[BadThad]

Indeed, but it shouldn't be too long. I think this stock will jump to at least $5-6 when it happens though.

[BadThad]

Took a small position at 3.28 this morning.....rollin the dice!

[b_radlewis]

Originally Posted by BadThad

Took a small position at 3.28 this morning.....rollin the dice!

I am in at 3.22 on this one and picked up pcx at 22.01. I think this is going to be a good day.

[BadThad]

Al right man! Good to have some company on these stocks!

Let's make some $$$!

[BadThad]

Bailout could be soon:

LONDON (Marke****ch) -- Greece, already beset by strikes and protests as a result of government belt-tightening, will face additional austerity measures as part of the price for a massive, multi-year loan package from its euro-zone partners and the International Monetary Fund.

News reports on Friday said the Greek government has agreed to implement an additional 23 billion to 24 billion euros ($31.8 billion) worth of cuts in return for the aid. The Financial Times said Greece's parliament would likely approve the plan next week.

"To the extent that these measures help Greece meet its fiscal targets, this news is positive. But they will have negative implications for growth, further testing the country's social cohesion," said Gizem Kara, economist at BNP Paribas.


News Hub: Europe assails ratings firmsEuropeans took aim at debt-rating agencies, accusing them of worsening the plight of financially stretched governments such as Greece that are struggling with heavy debts. Charles Forelle discusses.
Reports said the measures, which equal around 10% of Greek gross domestic product, are aimed at cutting Greece's budget deficit by 10 to 11 percentage points over three years from the 13.6% of gross domestic product seen in 2009.

The package would reportedly impose a three-year pay freeze on public sector workers, while also eliminating bonuses that amount to two extra months of pay, the FT reported. The package would also eliminate seasonal bonuses for pensioners and boost the average retirement age to 67 from 53.

Expectations that a rescue package, rumored to total between 100 billion to 120 billion euros over three years, will be finalized as early as this weekend have helped steady Greek and other peripheral euro-zone bond markets. A round of carnage earlier this week threatened to close government bond markets to all but the highest-rated sovereign borrowers.

Greek Prime Minister George Papandreou began a sales pitch for the added measures, telling parliament on Friday that the nation must take additional measures to ensure its survival, Reuters reported.

"The measures we must take, which are economic measures, are necessary for our country's protection, for our future, for us to be able to stand on our feet," Papandreou said.

A sharp rise in bond yields last week left Papandreou with no choice but to request activation of the E.U.-IMF standby rescue package. Greece must borrow around 10 billion euros in May, including an 8.5 billion euro refinancing on May 19.

The euro /quotes/comstock/21o!x:seurusd (CUR_EURUSD 1.3313, +0.0074, +0.5590%) , which set a new 12-month low versus the dollar earlier this week, rose 0.4% to trade at $1.3308.

Greek government bond yields fell slightly, with the 10-year seen around 9.47% in recent action, leaving the yield premium demanded by investors to hold Greek debt over German bunds at around 6.46 percentage points. The spread had hit 10 basis points at one point earlier this week after Standard & Poor's cut Greece's credit rating to junk status. Read about the downgrades.

That move amplified fears Greece could be forced to restructure its debt, which would likely cause a stampede out of other highly-indebted euro-zone countries' bond markets. Portugal was seen next in the firing line, helped along by an S&P downgrade of its credit status. S&P on Wednesday also downgraded Spain. Read about the Spain downgrade.

Yields fell back sharply Thursday as European officials signaled talks between Greek, European Union and IMF officials would conclude in coming days, as well as moves by German lawmakers designed to streamline approval of the country's share of the loan package. The cost of insuring Greek and Portuguese debt against default also fell after spiking higher in the wake of the downgrades. Read about the talks.

[BadThad]

Thanks Moody's!

Moody's downgrades nine Greek banks
8:18a ET April 30, 2010 (Marke****ch)
LONDON (Marke****ch) -- Ratings agency Moody's Investors Service on Friday downgraded the bank financial strength ratings and the deposit and debt ratings of nine Greek banks. The move reflects "their weakening stand-alone financial strength and the anticipated additional pressures stemming from the country's challenged economic prospects," the agency said. Moody's said the deposit and debt ratings will remain on review for possible downgrade, which will be completed when the agency concludes its ongoing review of Greece's sovereign ratings. The move affects National Bank of Greece , EFG Eurobank Ergasias, Agricultural Bank of Greece, General Bank of Greece, Marfin Egnatia Bank and Attica Bank.