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Suspicious Deal Between NBG and Israeli Firm

An agreement that benefits an Israeli firm at the expense of the National Bank of Greece (NBG) was denounced in parliament by former parliament president Apostolos Kaklamanis.

As specifically mentioned, "NBG drafted an agreement giving lion's rights to the Israeli firm Invel belonging to Mr. Steimetz, for the sale its subsidiary PANGAIA for 600 million euros, of which Invel will pay in cash 140 million, and the rest will be borrowed from NBG at an interest rate of 2.72%,. At the same time it will lease NBG eight buildings with rent yielding 9% return."

Mr. Kaklamanis also said there was evidence that the Fiscal Stability Fund had serious misgivings on the deal and called on finance minister Yannis Stournaras to look into the matter that smelled of scandal.

A few days ago, parliament received a document according to which 14 real estate items were transferred to PANGAIA for 115.5 million euros.

One of the buildings is the former Keranis tobacco storehouses on Thivon Avenue planned to house the Piraeus courts for an annual rent of 2.6 million euros.