If you think French bankers are smart, you better think again. Back in 2006, Credit Agricole (OTC:CRARY) spent 2.2 billion euros to buy a majority stake in Athens-based Emporiki Bank, which sold recently for $1 to another Greek bank, Alpha Bank! Add another 550 million euros capital injection last July, and Credit Agricole?s on the hook for 2.75 billion.
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| READ THE ORIGINAL POST AT www.forbes.com |
