Czech Position has received a statement signed by Piraeus Bank’s deputy general manager, George Poulopoulos, refuting information published by wikigreeks.org and cited in Czech Position article “Greek tragedy for Czech PPF group: Piraeus Bank investment almost wiped out.” The bank says it has filed a libel suit against wikigreeks.org.
When Czech investment firm PPF Group announced it had acquired a 5.7% stake in the Greek bank Piraeus back on April 29, the share price stood at €1.10. In the aftermath of Greek Prime Minister George Papandreou’s announcement Monday that the recently agreed EU economic plan must be put to a referendum, Piraeus shares tumbled from €0.21 to €0.165 within minutes of markets opening in Europe.
Speaking at a joint press conference following talks in Prague on Wednesday, the Czech and British prime ministers confirmed that they share the same position on Greece’s mounting debt. The two agree that under no circumstances should the European Financial Stabilization Mechanism (EFSM) be used for a second bailout for Greece.