From: GORGIO MANTZAVINATOS
Sent: Sunday, March 6, 2016 12:50 PM
To: jeevacation@gmail.com
Subject: Greece Developments
Dear lefrey
Hope my email finds you wel= and enjoy Mexico
As requested by our common friend=Seikh labor i am writing this email to you in order to update you in Greek=situation
which is unique.
After 6 years of conti=uing recession 3 Banking recapitalization and 3 Government changes we are =xactly in the same
level plus the major refugee problem that we are facing=lately.
Unemployment rate officially close to 30%= no major reforms except tax increased and a bunch of jokers for
Governmen= conclude the situation today.
As i told yo= previously i am with a contract with Alvarez & Marsal Greece and due =o our job with the major 4 systemic
Banks the NPL ratio is around 42=43% heading to 45% at the end of this year.
The t=tle of this book could be " The perfect catastrophe"
<=r>
My opinion is that we are going to see worst in the next mont=s till September,October( probably a 4th round of
recapitalization for our=Banks) that most of the people agree that the boys from your site wi=l take some major
initiatives in order to relief Greek debt.
This is more or less my view and hope to help you to get = more understanding opinion on the Greek problem.
<=r>
Best Regards
George G. Mantzavinatos=/div>
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