A groundbreaking investment move
The bold investment decision by the National Bank of Greece (NBG) to acquire a major share in Turkey’s Finansbank at a cost of 2.3 billion euros has drawn international interest and even front-page coverage by European newspapers. Through this move, NBG hopes to take another step toward its goal of acquiring a leading role in Southeastern Europe, having already established its presence in six countries in the region. But the significance of this investment is not restricted to its economic dimension, however significant that may be. It also has geopolitical repercussions, quite apart from the favorable impact it will have upon Greek-Turkish cooperation. Indeed, the move highlights the geopolitical significance of our country in the Balkan region and its potential for boosting the modernization of neighboring states. By providing technical know-how and developing its activities in the banking sector of a challenging region – whose approach Greek bankers have become familiar with over the years – Greece can secure a leading role for itself, a role which our Balkan counterparts not only accept but actually welcome, providing that Greek businessmen demonstrate the serious approach demanded by this role. But perhaps even more important than upgrading our country’s geopolitical potential is the boost to our national confidence that comes with such a major investment. This move marks the beginning of a period of outward-looking initiatives in the field of international finance, using the wealth produced in Greece in recent years as a springboard. For a country like ours, which often falls into introspection and undervalues its capabilities, NBG’s major acquisition in a Turkish bank certainly signals a new era of increased capabilities and expectations.
