Decisions to Reopen the Athens Stock Exchange Will Be Taken Next Week

ASEFinal decisions concerning the reopening of the Athens Stock Exchange will be taken next week, senior Finance Ministry officials said on Thursday.

Representatives of the Bank of Greece (BoG), the Capital Markets Commission, the stock exchange and the Members Association of the Athens Exchanges are currently deliberating on how to smoothly resume the operation of capital markets.

The main point of dispute is the limit that will be imposed on domestic investors when it comes to using their bank deposits for investments in the domestic market, with three different alternatives under discussion.

One idea is that investors will be able to buy stocks using, in addition to “new money,” a small percentage (e.g. 10%) or a set upper limit (e.g. 5,000 euros) of their existing bank deposits.

Another is that investors will be able to use their credit balance with stock brokerages, though this sum is just 30 million euros, while a third is the possibility of transferring capital from bank accounts to investor accounts using e-banking.

(source: ana-mpa)