Depositors are secure, shareholders not

The NBG stock opened at -30% and is trading at 0.364 euros, while the market capitalization of the bank stands at 446.48 million euros.

The Eurobank share is at the same levels, also opening at -30% and trading at 0.105 euros, while its market capitalization stands at 58.059 million euros.

The general index is at 801 points, dropping by -2.61% and with a turnover of 12.8 million euros.

This new development has lead shareholders in losing any hope of rescuing what they can, but depositors are very safe.

"The deposits in the National Bank and Eurobank are absolutely assured," government spokesman Simos Kedikoglou said on the occasion of the merger suspension for the two banks.

In his statements on ANT1 TV Kedikoglou said "the two banks could not raise the 10% of the share capital increase from individuals" and that "it was a matter of Greek law, which could not be extended."

Referring to the issue of removal of perjurer employees from the public sector he said, "for every one that is removed a new one will be hired under meritocratic criteria through ASEP. This will require law provisions and the replacement must come immediately."

He added that the fight against unemployment should be done only through development. "We are at a turning point. We expect a lot. We expect a positive liquidity shock," he said, clarifying that there is no chance of additional measures.

Meanwhile, Eurobank prepares to attempt a capital increase with the participation of private individuals to cover 10% of its needs in order to build on the last chance to avoid full inclusion in the Fund.