Greek shares slump further as financial markets fret over new government's anti-austerity pledges
- 9 years ago
Share prices in Athens were hammered by word that the new Greek government intends to press ahead with its campaign pledges to roll back austerity measures imposed under the bailout programme.
The main Greek stock market index was down a further 8.0 percent by mid afternoon. It has fallen 14 percent this week.
Shares of Greek power firm PPC and the country’s biggest port, Piraeus Port Authority, slumped as it was revealed that their part privatisations would be halted.
Ministers have also promised to reinstate laid-off public sector workers whose dismissal was ruled unconstitutional, restore cuts to pensions and reverse a reduction in the minimum wage.
Financial markets are looking on nervously as the cost of borrowing for the Greek government continues to ratchet up.
The Greek banking index was down over 20 percent on Wednesday, hitting a record low. It has plummeted 98.6 percent since late 2009, before Europe’s sovereign debt crisis started.
Traders said local investo
The main Greek stock market index was down a further 8.0 percent by mid afternoon. It has fallen 14 percent this week.
Shares of Greek power firm PPC and the country’s biggest port, Piraeus Port Authority, slumped as it was revealed that their part privatisations would be halted.
Ministers have also promised to reinstate laid-off public sector workers whose dismissal was ruled unconstitutional, restore cuts to pensions and reverse a reduction in the minimum wage.
Financial markets are looking on nervously as the cost of borrowing for the Greek government continues to ratchet up.
The Greek banking index was down over 20 percent on Wednesday, hitting a record low. It has plummeted 98.6 percent since late 2009, before Europe’s sovereign debt crisis started.
Traders said local investo