National Bank of Greece dropped 13.5% while Alpha Bank fell 4.3% and Piraeus Bank slipped 2.8%.
But the National Bank of Greece, despite the run-up in its stock, remains the sector's likely long-term winner.
National Bank of Greece is the country's largest banking group and recently made a big acquisition in Turkey.
But you also have banks like the National Bank of Greece, Allied Irish Bank, La Caixa Barcelona and Societe Generale.
National Bank of Greece (NBG) and Eurobank fell by 30% in morning trade, while Alpha and Piraeus lost up to 20%.
NBG's parent, the National Bank of Greece, owns several big banks in Bulgaria and Macedonia and has branches all over Serbia.
National Bank of Greece (nyse: NBG - news - people ) is the country's largest banking group and recently made a big acquisition in Turkey.
The next on line, for instance, is National Bank of Greece (NYSE: NBG), the largest bank of Greece with an extensive presence in the Balkan region, Turkey, and Egypt.
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Among the largest underlying components of IEV, in trading today Ryanair Holdings Plc ( NASD: RYAAY) is trading flat, and National Bank Of Greece S A ( NYSE: NBG) is up by about 4.5%.
Economists at National Bank of Greece, an Athens lender, predict that, if Greece returns to the drachma, incomes will fall by at least 55%, bank lending rates would reach 37%, output would plunge by 22% and property values would fall by half.
Under ELA, banks borrow from their national central bank, in this case the Bank of Greece, with approval of the ECB's governing council.
Germany is also the home to the European Central Bank and the biggest national creditor to indebted nations within the eurozone such as Greece, Portugal and Ireland all of which would make Germany's exit from the eurozone logistically difficult.
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