The big fish eats the small fish

Greek banks should look at mergers with foreign lenders to help them tap market funding and shouldn’t rush to reduce their reliance on the European Central Bank, according to the Organization for Economic Cooperation and Development.

“Further bank consolidation could be one option to increase access to market liquidity,” the Paris-based OECD said in a report today. “Managers and shareholders should, however, explore the option of partnerships or mergers with foreign banks.” (Source: Bloomberg)

History is made by the strong power groups prevailing over the weak ones. Eventually the weak power groups lose their identity.

Power becomes concentrated in fewer hands. This is how history works, This is how the markets always prevail. There is no conspiracy. It is just how things work.

The people of Egypt are still waiting for the magic solution that makes them happy. It is not going to happen because power is too concentrated. Why should they give it up? Too many weak people. Too few strong people.

In any culture in any place and time, the growth of a country depends on the pervasiveness and reach of the government and by the concentration of power.

George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest

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