SOURCE: The Bedford Report

The Bedford Report

September 12, 2011 08:16 ET

Foreign Banks Trapped in Crisis Mode

The Bedford Report Provides Equity Research on National Bank of Greece & Llyods Banking Group

NEW YORK, NY--(Marketwire - Sep 12, 2011) - Economic strategists continue to argue that the eurozone's financial system would be close to collapse without emergency loans from the European Central Bank (ECB). Of concern are warnings from the ECB that these loans cannot last forever. While not part of the Eurozone, UK Banks are also greatly affected by events that occur within the currency union, and have struggled in a similar fashion to other European financial institutions. The Bedford Report examines the outlook for companies in the Foreign Banking Sector and provides stock analysis on National Bank of Greece SA (NYSE: NBG) and Llyods Banking Group PLC (NYSE: LYG) (LSE: LLOY). Access to the full company reports can be found at:

Billionaire investor George Soros recently warned that the eurozone's debt problems could be worse than the Lehman Brothers' collapse due to a lack of leadership on the Continent. In an interview with The New York Times, Soros argues that European policymakers have not come up with measures to help fund European banks, whose shares are now back at their lowest point since March 2009. "The lack of an authoritative pan-European body to handle a banking crisis of this severity is causing a huge problem," he added.

The Bedford Report releases investment research on the Foreign Banking Sector so investors can stay ahead of the crowd and make the best investment decisions to maximize their returns. Take a few minutes to register with us free at and get exclusive access to our numerous analyst reports and industry newsletters.

Presently the National Bank of Greece is trading near all-time lows after Moody's Investors Service downgraded the deposit and senior debt ratings of eight Greek banks. The ratings agency also said Greek banks would be exposed to a potential erosion of their funding sources owing to a potential acceleration in deposit withdrawals and uncertainties regarding continued access to European Central Bank (ECB) liquidity.

In the UK Lloyds Banking Group has taken significant measures of late to restore its bottom line. The company plans to cut 15,000 jobs in an effort to save 1.5 billion pounds ($2.4 billion) a year by 2014. Lloyds also said it would reduce its international presence from 30 countries to less than half that by 2014.

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