Greece: Athens Stock Exchange reopens Monday after five weeks closing
perspective eventful session Monday in the Athens Stock Exchange will reopen after five weeks of closure, amid preparing a third international aid plan for Greece, still weighed down by its huge debt and short of money.
The stock market was closed on June 26, on the eve of the surprise announcement by Alexis Tsipras, the first leader of a radical leftist government in Europe, the next referendum (he won, July 5) 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 the panic investors rushed to cash machines to withdraw money, exacerbating a slow haemorrhage of deposits since December 2014.
Faced with the risk of a collapse of the banks, the government had decreed capital controls and the closing of both banks, which finally 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 values that will be the focus of attention, as the banks are in a very vulnerable situation with the withdrawal of 40 billion euros by depositors since last December, according to banking association …
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