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Greek Stocks Crash To 30-Month Lows As Trading Restrictions Lifted
Since laste June, "local investors" have been restricted to only being allowed to buy shares and disallowed from withdrawing cash from accounts. Those restrictions did not stop the stock market from collapsing further and today authorities have decided to lift those capital controls... the result - ASE has plunged below mid-Summer lows to its lowest since June 2009...
Capital controls have been in effect in Greece since late June 2015. With their imposition came a three week bank holiday and the shutdown of the Athens Stock Exchange (ASE) until early August. Since its reopening, the ASE’s general index has yet to reach the 797.52 basis points it stood at on June 26, the last day of operations before capital controls, having plummeted to 608.96, the lowest since August 2012.
The new measure that Tsakalotos reportedly approved, means that Greek investors will now be able to buy financial instruments like bonds and stocks, among others, with “old money,” meaning that they can use funds they have in their Greek bank accounts as well.
But...
HCMC will push to keep short selling of banking stocks and bonds prohibited until December 20.
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So that's what happens to a manipulated market when some of the manipulation is removed?
Whocouldhaveknowed?
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.wallstreet34.com
Phone sex can employ even the ugliest, stupidest, people. Congratulations on having a job spamming people about it. My grandmother's brother's uncle's daughter told me to post this.
why are we publishing bad news about Greece?
Greece is fixed - didn't you get the memo ?
Move. On.
To the next screwing?
Many more miles to go before the oligarchs sleep.
Could never happen here. We have the deepest, most liquid markets in the world.
That's what lets me sleep and night. That and vodka.
A glass of good Cabernet does the job for me. And by glass I mean bottle.
Thanks, almost lost my coffee on that one.
As Greece has leapt from the first world to a fourth world of vice, squalor and decay, economic desperation has caused prostitution rates to fall by 90%. So why should the stock market not fall by 90%?
The deal that Greece made with the Vampire Squid to join the EU with fake finances is paying big dividends.
Hey, December 20th is the day I have to pay my government rental fee called property tax.......coincidence?
One hell of a head and shoulders pattern. Next stop: the ankles.
Grab ankles (or cankles HRC) BOHICA
Greece has a stock exchange, who knew ?
The restrictions may have been lifted, prices sure didn't.
The ASE is no S&P.
National Bank of Greece down 21%
Pass the olives!
You move ahead when you can take advantage of opportunity and a chance to grow something of substance. That can't happen with controlled markets. At least by letting markets be purely capitalistic and free of control, even if it takes everything to the bottom, the guy at the bottom of the hole has a chance of getting out, even with just a shovel.
The surprising thing is someone is buying.
Sad to see such proud people taking it in the behind end from the A-Hole control freaks in Brussels and doing nothing about it because they don't know what to do and can't agree on whether it is a nice day. That's the problem with Greeks. You talk to 5 of them and you get 10 different opinions. Will be impossible for them to come together and tell the EU to f-off unless and until they are ALL really hurting the same way or hungry.