At the stock exchange in Athens is Monday for the first time in five weeks again acted. Upon opening the main indicator plunged 11 percent in the minus, then to sink even further away, to 23 percent. Just after noon records the index 17 percent in the red. Especially banking stocks, the National Bank of Greece and Piraeus Bank, should give up a lot of land.
Trading on the Athens Stock Exchange since the end of June was quiet, as well as the banks were closed in Greece. The financial sector of the country was locked to prevent the banks would succumb to the great uncertainty about the economic future of the country.
Since then voted six out of ten Greeks ‘no’ in a referendum presented by Prime Minister Alexis Tsipras. Thus demonstrating their confidence in their prime minister, but also threatened to step out of the euro zone for the country. Knew Tsipras however be avoided by agreeing to the austerity measures imposed by creditors Greece.
Greece peaked last month after lengthy negotiations, after all, an agreement which overlooks continued financial support from the euro countries. Partly because the banks could open again two weeks ago.
Capital controls
Since July 20 Greeks may again withdraw money or transfer it to other countries. For the Greek investor money still limitations, just as Greek savers but limited money can get from the wall and money can override abroad, despite the reopening of the Greek banks. In the same way also get Greek investors still impose capital controls.
Last Friday, the Greek Ministry of Finance announced that the Athens Stock Exchange (ASE) would reopen on Monday.
Experts say it will take months before the distrust ebbs investors and Greece and its companies again will make money on the international market.
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