Emerging Markets
by InsideTrade Staff on December 16, 2014

National Bank of Greece (ADR) (NYSE:NBG) part of the larger European ADR slide

National Bank of Greece (ADR) (NYSE:NBG) was also one of the major players at the stock markets which saw a drop in European ADRs on Monday. The decline is led by the drop on crude oil prices as world markets are dependent on West Texas Intermediate, slated for Jan 15 delivery dropped by another 1%. It currently reads $57.22 a barrel while Brent Crude remained at $61.83.

However, National Bank of Greece (ADR) (NYSE:NBG) appears to have reached another stand-off point as EU Juncker warns Greek voters.

On Friday, the chief executive of the European Union issued a stern warning to Greek that there would big trouble if they voted the wrong. The Chief Jean-Claude Juncker said that if radicals were voted to power at the parliamentary election, there would be worse things for Greece.

He was earlier the President of the European commission and he reiterated his comments on Thursday as well. He also asserted that he was not in the competition for political power but only wanted progress in the Greek political scenario he claimed.

If the elections fail to see the right government in place, Athens is expected to be in deep trouble. The incumbents are likely to face a defeat by the left-wing party, which does not agree with EU on the terms of the financial bailout.

Juncker was one of the key persons involved in the euro zone debt crisis when he headed Luxembourg as the Prime Minister. He urged Greek voters to realize that the risks of election would put to test financial condition of the country.

Juncker assured voters that the current market forces in Greece were normal and there was not much room for a crisis to emerge. He therefore reiterated that the government should be voted back to power, so that the current financial environment can be continued.

By InsideTrade Staff

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