The session may be agitated. 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 referendum, he won July 5, on new measures austerity proposed to his country. He hoped then break the impasse in the negotiations were found with creditors.
& gt; Read: What has served the Greek referendum
Panic of investors and capital controls
This decision had caused panic among investors rushed at ATMs 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.
& gt; Read: Capital controls in questions
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.
Hécatombe expected?
The operations will be possible on all securities, including bank stocks that will be the center of attention. Greek banks are indeed in a very vulnerable situation.
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. According to Capital, fears over the country’s economy could lose around 20% to the main index of the financial center.
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