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US hedge funds invests heavily in Greek banks

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October 6
9:22 PM 2013

Paulson & Co, led by hedge fund billionaire John Paulson, along with a number of US hedge funds had been aggressively investing into the struggling banking sector of Greece. The US hedge funds had been expecting it to turn a corner, said a Financial Times report last Sunday.

According to the report by FT, the interest from the US hedge funds had prompted big banks in Greece to lobby the government into considering hastening up the re-privatization of the sector.

Paulson & Co could not be immediately reached for comment regarding the report. Meanwhile, billionaire John Paulson told the Financial Times that his fund owns substantial stakes in Alpha Bank and Piraeus Bank in Greece.

John Paulson said, "Both are now very well capitalized and poised to recover (with) good management."

The Financial Times reported while citing unnamed sources that Eaglevale, Dromeus Capital, Falcon Edge, Baupost, York Capital and Och-Ziff were among the other funds aggressively investing in Greek banks.

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