Greece: Banks and the Athens Stock Exchange will remain closed Monday – Le Figaro

The markets, which until Friday still believed in the signing of a last-minute deal between Greece and its creditors, will accuse the coup Monday. “They are not prepared for what is happening in Greece,” confirmed to La Stampa Catherine Mann, OECD chief economist.

To avoid the debacle, the Athens Exchange will be closed . The coming days will also announce very agitated on all seats of the old continent. “Foreign investors in particular Anglo-Saxon will sell their shares. The period is too uncertain, “predicts Pierre Sabatier, strategist at PrimeView. Bank stocks could be among the most heckled. “ The risk of panic is important , especially as equity valuations are quite high. There is also a risk of speculative attacks on the euro, “ahead of his side Dembik Christopher, an economist at Saxo Bank. The divestment of foreign funds in European equities, will drop the euro against the dollar, but also against the Swiss Franc, a

true haven in the foreign exchange markets.

The bond markets will also tremble. “ It is in the market for sovereign debt that the risk of contagion from the Greek crisis to other countries in the euro area is stronger ” said Pierre Sabatier. Italian yields, Spanish and Portuguese, the most fragile, should strive. However, the ECB should keep an eye. “She will make every effort to prevent the sovereign debt rates are soaring, which would undermine Europe’s economic recovery,” warns Christopher Dembik. The ECB could increase its sovereign debt purchase program.
(Danièle Guinot)