Tragedy to Triumph? – The Greek Banks

Published on
November 13th, 2017
39 minutes

Tragedy to Triumph? – The Greek Banks

The Big Story ·
Featuring Mark W. Yusko

Published on: November 13th, 2017 • Duration: 39 minutes

Greece was hardest hit by the European Debt Crisis, but eight years on, there’s an opportunity in the banking sector, as the economy shows signs of life. As some of the biggest US hedge funds move on the sector, Mark Yusko speaks to the analysts that know the Greek banks better than anyone and assesses the risks for what could be the big trade for 2018.


  • YW
    Yowshi W.
    3 May 2019 @ 14:50
    Corruption can't be eradicated just like that
  • KE
    Kenan E.
    25 November 2017 @ 19:20
    Remember - there are very few things in this world which are as screwed up as greece.
  • NK
    Nikos K.
    21 November 2017 @ 15:49
    very superficial coverage of the situation , simply because the "other side" was not presented in the interviews. As a general comment, regarding the specific investment opportunity, i can only say that investing in countries ruled by authoritarian governments the end game is strictly binary....either zero or 10x. However, Greece is part of the EZ , so 10x is out of questions at this point.
  • OB
    Olivier B.
    21 November 2017 @ 02:16
    I missed no mention to the political framework. Should Mitsotakis rise to power, GREK would fly.
  • VP
    Vincent P.
    20 November 2017 @ 16:06
    Add GREK to the "Great Experiment" portfolio :)
  • VM
    Vinnie M.
    18 November 2017 @ 17:36
    There all crooks none pays taxes and its a pig with lipstick.
  • SB
    S. B.
    18 November 2017 @ 11:37
    And is GREK a good investment vehicle?
  • MZ
    Michael Z.
    17 November 2017 @ 01:13
  • tw
    tam w.
    16 November 2017 @ 22:07
    Pure gambling for anyone but the insiders.
  • SD
    S D.
    14 November 2017 @ 17:58
    Look at the price Greece has paid for refusing Grexit. Which Western country has attained 3.5 percent annual GDP growth for five consecutive years in recent history? This is a contemporary Holocaust, a population decline from 17 million to 11 million over just 13 years, directly attributable to economic conditions imposed by a dominant creditor state. The UK is foolish to ignore this lesson, and persist with negotiations with a party that is clearly incapable of operating in good faith. The UK should pursue aggressively a hard Brexit, partly to enable a more equitable negotiating position for Greece and the other impoverished second tier EU states.
    • JM
      Jason M.
      15 November 2017 @ 15:20
      If they had even close to the right economic policies on the private sector, and the populace and its government allowed the banks to heal....a lot of those people would come back. Its not like Greece is a terrible place to live....its just a terrible place to try to work.
    • SD
      S D.
      15 November 2017 @ 17:54
      You misunderstand. Those are not people who have the luxury of leaving. Those are people who will die replaced by a population that cannot regenerate due to predatory economic policies designed to punish rather than rehabilitate on behalf of corrupt and incompetent banks in Germany. Those banks are the entities that deserve forcible extinction not one third of the Greek population.
    • SD
      S D.
      15 November 2017 @ 17:57
      That should be die unreplaced. And by the way, banks don't "heal." People do. Anthropomorphising banks to promote predation resulting in extermination of one third of a national population is indefensible.
    • GS
      Gordon S.
      15 November 2017 @ 21:32
      Where do you get the fact from that the Greece population has decrease from 17 million to 11 million? Here for example it shows only a drop of like 400k from peak to trough and a drop of 200k over the past 13 years...
    • SD
      S D.
      16 November 2017 @ 18:56
      Check the tape. It's 11mln to 6.5mln starting in 2010 projected out 30 years.
  • JW
    Joakim W.
    15 November 2017 @ 06:34
    Great video. Always nice with a multitude of views and takes on the same topic.
  • NA
    Naiem A.
    14 November 2017 @ 21:21
    How many more years will they try austerity? to these economists the bloodletting must continue until reality conforms to their theories. In the mean time Greece is being depopulated of its able bodied workers, leaving only the old to suffer further cuts. yeah great recipe for recovery!
  • JM
    Jason M.
    14 November 2017 @ 15:41
    When you are socialist, things generally keep getting worse until you are not a socialist. Has Greece renounced socialism? Not yet...
  • AC
    Andy C.
    14 November 2017 @ 07:55
    Mark is my favorite. Mark would be a great teacher. Thank you.
  • SR
    Steve R.
    14 November 2017 @ 07:52
    Greece maybe a good opportunity in the future, but (IMHO) the risks favour waiting until some of the issues highlighted have been resolved, particularly the bank stress tests and the possible 4th restructuring. Whilst greek banks may look 'cheap' I get the feeling they will get cheaper still before the tide eventually turns. If you look at the charts (of the 4 mentioned banks) it appears they've all rolled over and heading lower.
  • DJ
    D J.
    14 November 2017 @ 07:20
    I’m surprised the Hellenic security fund was not discussed and the potentiual opportunity of Grexit. Otherwise Great. This is something everyone though investigate and look into if they consider if they want to purchasing these stocks and are allocate a probability of a potential Grexit down the road.
  • SP
    Steve P.
    13 November 2017 @ 20:17
    Very interesting catch up on the Greek situation. Great coverage RV as it presents a good overall picture of the ongoing Greek dilemma -a culture that needs dramatic change to allow economic advancement. The Chinese have seen the long term opportunity and are exploiting it. That may or may not mean less well healed investors have the same opportunities. Still more speculation than investing involved in Greece at the moment.
    • ek
      eric k.
      14 November 2017 @ 06:22
      ...and from the Opium War in the 1840s to 1910, the Europeans exploited China. Just like Sarah said above, the Greeks won't forget this humiliation, and now we are seeing that the Chinese haven't forgotten theirs either. We are all the same people.
  • TS
    Todd S.
    14 November 2017 @ 01:46
    Great job Mark! Greece was no where on my radar but its worth a look. Well done
  • SD
    S D.
    14 November 2017 @ 01:41
    Nice overview. What has happened in Greece is offensive. It amounts to economic war upon the cradle of Western civilisation. The youth of that country, and thus the country's future, has been terminally compromised by unelected and unaccountable EU officials acting on behalf of corrupt and incompetent German banks. Look and learn. Today Greece, tomorrow ....??? The Greeks won't forget this. Nor should they.
  • PB
    Pieter B.
    13 November 2017 @ 18:46
    Excellent content! Thanks a lot!
  • KT
    Ken T.
    13 November 2017 @ 17:26
    A very good episode. And Mark did an excellent job hosting it. He told us what we were going to hear, reminded us of what we heard and summarized the presenters conclusions.
  • LR
    Larry R.
    13 November 2017 @ 16:51
    Still seems too early. Greece has been living far above its means for 40 years. This is the fundamental reason they are in trouble. They have not really addressed this. There will be no real turn for the better until this is addressed. Former central banker's comments make this clear. Sounds like bank balance sheets are still full of rubbish and accounting tricks. Are there some very specific plays possible? Yes, but only if you have a very good micro level of knowledge in that specific area.
  • IH
    Iain H.
    13 November 2017 @ 16:41
    A very balanced piece. More like this thanks. Oh and no hype!!! Perfect!
  • JG
    John G.
    13 November 2017 @ 16:00
    Well done. I hope we see more about Greece from RV.
  • JH
    Jesse H.
    13 November 2017 @ 13:17
    Thanks, RV - balanced, data-driven take on the situation in Greece. More of this please : )
  • JC
    Joseph C.
    13 November 2017 @ 12:50
    If i were Greek why would I put mony in a Greek Bank?
  • PU
    Peter U.
    13 November 2017 @ 11:12
    I found this interview balanced. . . presenting both the bull and bear case. Well done.