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Athens Stock Exchange
Greek Manufacturing Industry Collapses In July
The Greek manufacturing industry fell at a record pace and collapsed in July amid capital controls and as uncertainty grows over the country’s future relationship with the Eurozone. A manufacturing gauge by Markit Economics, known as the Purchasing Managers’ Index (PMI), showed that Greek manufacturing plunged to an all-time low of 30.2 in July, from 46.9 in … Continue reading
Greek Economic Growth Could Immediately Plunge 25% Following Grexit, S&P Warns
Standard & Poor’s (S&P) has warned that a possible Grexit would bring ‘very significant’ consequences to the Greek economy, and they are putting the odds of an exit at 50 percent, according to a report published on Thursday. The rating agency says that without the support of the Eurosystem, which it estimates at over 70 percent of Greek gross domestic product (GDP), Greece’s payment system … Continue reading
Greek Crisis Deepens As Govt Introduces Capital Controls; Banks, Athens Exchange Said To Be Closed For The Week
The crisis in Greece is deepening as the government announced that it will roll out capital controls in addition to closing its banks and the Athens Stock Exchange on Monday after creditors refused to extend the country’s bailout and savers flock to ATM’s to withdraw cash, Reuters reports. Athens’ standoff with the European Union (EU) and the International Monetary Fund (IMF) heads to a dangerous … Continue reading
Biggest Greek Stock Market Drop Since 1987 Over Surprise Election
The Athens Stock Exchange index has fallen 11.2 percent – the biggest intraday plunge since December 1987. The government announced a snap presidential election, two months ahead of time, making investors nervous over the status of EU bailout money. Investors were spooked by the sudden presidential election call, as it could if things don’t run … Continue reading
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