How BlackRock opens the way for speculation from the "vultures"

On Thursday, the Bank of Greece released its report that was drew for the needs of Greek banks based on the second study conducted by BlackRock, whereby the capital needs of Greek banks formed at 6.38 billion Euros in the next three years.

Of particular interest are the estimates of the BoG for bad loans to a depth of three years, which are a time bomb on the capital adequacy of banks.

Therefore, according to the report, the total estimated losses on loans for the period 2013-2016 are estimated at 50.241 billion for Greece and 10.41 billion for abroad total 60.7 billion against the existing provisions 38.328 billion.

Of course, based on these results, the chances for recapitalization of banks is increasing, something that was already discussed after the completion of the first report.

That means, that for once again, the report of the "sacred cow" Black Rock will be an excuse to advance the perfectly orchestrated game for shrinking and "de-Hellenization " of Greek banks.

Based on the data of the "gurus", the government will have to provide the necessary crutches to bankrupt banks, offering generously the sustainable public financial institutions, which are much better off than their recipients, while at the same time will open wide the backdoor for the international vultures of speculation.

Besides, it is well known that representatives of the disputed funds awaiting Greece ... in the corner with a single purpose: to buy dirt cheap the assets, which under normal circumstances would not dare even to look.

They are mainly targeting the listed companies, which due to the poor economic climate, have proceed to high short-term borrowing, which fail to settle.

This fact, combined with the weakness of the banks, to sustain such a situation for long, creates the perfect setting that will allow the "vultures" to hit. Their method is known: occurring as saviors, they suggest to the banks to buy these loans for a very small fee -of course- , and thus gain control over many huge corporations dirt cheap.

It is obvious, that not only firms are on risk, but also the ordinary citizens who will see their lifetime labors and fortunes to evaporate and pass into foreign hands, due to their inability to meet their debts to the banks...

Why the reports in question are not published

It is worth noting that the Bank of Greece, since the December 9th, 2013, had the report of Blackrock, which studied the loan portfolios of Greek banks for a time horizon starting at June 2013 to December 2016, and examined one by one financial data from the banks, the gaps and the omissions that should be covered in order to become viable. However , this report is expected to remain hidden, in the office of the Governor of the Bank of Greece George Provopoulos , just as happened with the first report , which was delivered by the same company in mid-January 2012 , shortly before the haircut of Greek bonds; afterwards the banks took 50 billion liquidity injection from the EFSF to recapitalize them.

Why the reports were not published? So that the "vultures" can have the Greek bankers and politicians "tied up" and unable to react to the claims for drastic reduction of the scope of Greek banking system. Because, apart from the unsecured loans , the investigation of Black Rock has revealed , according to reports, many other suspicious loans to the business elite (media, publishers, friends of the government) that are unsecured and not served , disguised as non performing loans through the process of refinancing ,and transfer of those loans to subsidiaries abroad.

A perfectly orchestrated game for shrinking and "de-Hellenization" of the Greek financial sector is nearing completion. However, the responsibility does not only weigh on people of Blackrock. The responsibility for the criminally bad calculation as well as the fact that "we put the wolf to guard the sheep" lies within the political and banking leaders of the country...