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Stocks in Greece (GREK -3%) fall for a third day as the ASE sheds 3.2% — the index is now...

Stocks in Greece (GREK -3%) fall for a third day as the ASE sheds 3.2% — the index is now down nearly 11% in three sessions. A 24-hour strike called by the country's two largest labor unions in protest of the ERT shutdown has conspired with the failed DEPA privatization effort to dent confidence in what as of today is no longer a "developed market" in the eyes of MSCI.
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  • Herr Hansa
    , contributor
    Comments (3086) | Send Message
     
    Unfortunately it is not even an emerging market. I could imagine another debt restructuring in the near future. It is doubtful Greece will ever repay what they borrowed. Quite likely the next restructuring will take down a few more banks. Hopefully as this develops, it has less impact on overall markets than it did in the past, and hopefully does not cause another Cyprus crisis.
    12 Jun 2013, 01:53 PM Reply Like
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