Athens – Greece: Monday reopened the Athens Stock Exchange after 5 weeks of closure – L’Express

The stock market was closed on June 26, the day before the surprise announcement by Alexis Tsipras, the first leader of a radical leftist government in Europe, the next referendum (he won, 5 July) on new austerity measures proposed to his country. He hoped to break the impasse in the negotiations were found with creditors (EU and IMF) by submitting their supply agreement on financing the public.

This decision had caused panic among investors rushed to cash machines to withdraw money, exacerbating a slow haemorrhage of deposits since December 2014.

Before the risk of bank collapse, the government had decreed capital controls and the closing of both banks, which eventually reopened on July 20, and the stock exchange.

On Monday, the stock will resume operations for foreign investors, but they are more framed for local investors. They can not finance the purchase of securities by withdrawing money from their bank accounts in Greece, thus remaining under the control of existing capital in that country. They can however use offshore accounts or make cash transactions.

The operations will be possible on all the values ​​listed, including bank stocks will be the center of attention, as the banks are in a very vulnerable situation with the withdrawal of some 40 billion euros by depositors since last December, according to the Association of Greek banks.

The Athens Stock Exchange has also specified that the exchange volatility limit would be reduced from 30% to 20% during the first three days of operation.

The ATHEX index of Athenian had finished up 797.52 points How to June 26

The Greek Finance Minister Euclid Tsakalotos had Friday its first meeting with senior representatives of the creditors in charge of preparing a third plan of aid to Greece, including the IMF, which participates in the same discussions if it does not immediately associate this new bailout.

The Greek government wants to finalize by mid-August the agreement on a new three-year loan in the amount of over 82 billion euros, under the decision taken on 13 July summit of eurozone leaders in Brussels.