(MENAFN- Saudi Press Agency) The Greek stock exchange opened Monday after a month and immediately fell by just under 23 per cent, dpa.
The president of the Hellenic Capital Market Commission, Costas
Botopoulos, told Skai television that he expected heavy losses on the
first day of trading after such a long closure.
'The stock exchange ... will come under pressure. This will also be
the case for the banks given the fact that they have to be
recapitalized,' Botopoulos said.
The government has imposed certain restrictions on the stock market:
Investors who have money in Greek banks can only buy stocks and
shares with funds from outside the country or with cash, Botopoulos
said.
The stock market was closed as part of the capital controls imposed
by the Greek government on June 29 to prevent money from fleeing the
country and a collapse of the banking system.
Greeks have withdrawn billions of euros from their accounts since
then over fears of a banking crash.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.