National Bank of Greece (NBG) Stock Declining as Greek Debt Woes Continue

NEW YORK (TheStreet) -- Shares of the National Bank of Greece (NBG) are down by 7.14% to $1.24 in mid-morning trading on Friday, as euro-area officials are demanding a proposal for stabilizing Greece's debt before the end of the day, Bloomberg reports.

On Thursday, the tension filled talks between Greece and its creditors hit yet another bump when the International Monetary Fund negotiating team withdrew from the discussions over significant differences.

Talks between Greece and its creditors have been going on for four months. On Thursday EU President Donald Tusk criticized Greek Prime Minister Alexis Tsipras for the delay in reaching a debt agreement, Bloomberg said.

Germany's Chancellor Angela Merkel has been urging Tsipras to accept the framework deal for financial aid, Bloomberg noted, adding that the German public is turning against supporting Greece.

"People are really fed up with this. They've never seen anything so completely ridiculous, frankly speaking, from a debtor country," UniCredit Chief Global Economist Erik Nielsen said, Bloomberg reports.

Separately, TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:

"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, disappointing return on equity, poor profit margins and weak operating cash flow."

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