Greece: reopening under strict surveillance of the Athens Stock Exchange after five weeks stop – The World

The Athens Stock Exchange is open Monday, Aug. 3 in an atmosphere that looks after five weeks of hectic closing and substantive negotiations with a third International aid plan for Greece, weighed down by its huge debt and short of money.

The stock market was closed on June 26, the day before the surprise announcement by the Prime Minister Alexis Tsipras, the organization of the referendum on the austerity measures proposed by the creditors of the country.

This decision had caused panic among investors rushed to cash machines to withdraw money, exacerbating a slow haemorrhage of deposits since December 2014. Given the risk of a collapse of the banks, the government had decreed capital controls and the closing of both the banks and the stock exchange.

On July 20, a week after the agreement reached in Brussels forceps and paving the way for the negotiation of a third international loan to Greece amounting to over 82 billion euros, banks have reopened . The restrictions and capital controls remain in place, with flexibility

Read the details. What Greece accepted in return for financial aid

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 subject to capital controls still in place although a bit more flexible. 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 40 billion euros by depositors since last December, according to the Association of Greek banks.

The Athens Stock Exchange said 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 discussions on the terms of a third plan of aid to Greece ahead very hard, because including differences between creditors on a relief of the Greek public debt, supported by the European Central Bank, the International Monetary Fund or France. But Germany is reluctant to discuss.