ATHEX Remains Closed
The Greek stock market is now on its third week without any trading activity, and has been predicted to remain as is, until the Greek banking system is back on track.
Last week, many meetings occurred between Greek Finance Ministry officials, Capital Market Commission and Hellenic Exchanges SA delegates, and the traders association.
The Financiers attempted to reach a solution for the stock market to open ahead of the banks. Yet the Finance Ministry wouldn't authorize the submitted varying recommendations.
The initial and major aftermath of the stock market gridlock is the July 17th expired derivatives settlement, that was determined to administer June 26th pricing.
With the stock exchange's restart, foreign investors may sell their shares and use their capital elsewhere, while the Greek stock exchange is forecasted to experience an additional downgrade by MSCI and FTSE.
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