GREEK FINANCIAL MARKET
The General Index in Athens Stock Exchange (ASE) closed in a 22-year low at 502.52 posting heavy losses of 4.53%, in a turnover of €36.70mn.
The ECB Governing Council member Mr. Ewald Nowotny said that no-one knows the consequences of a Greek exit From Euro-Zone, as it would cause massive disturbances.
According to the Center for Strategic Studies in Moscow, Vladimir Putin faces the risk of Russia’s political stability being shaken if Greece leaves the euro area, triggering a global crisis and sinking the price of oil (Bloomberg).
The Finance Ministry is considering using the funds that the Hellenic Financial Stability Facility has at its disposal to secure some desperately needed cash for the state for as long as possible.
The ND president Mr. Antonis Samaras said that a potential exit of Greece from the euro is suicide.
The Italy’s Deputy Economy Minister Mr. Vittorio Grilli said that Italy must prepare itself for the possibility of Greece leaving the euro zone, though it aims to avoid that happening.
The Professor Nouriel Roubini said that Greece will probably become insolvent and leave the euro this year or next.
- Banks: a) The BoG governor Mr. George Provopoulos said that banks will receive a capital boost of €18bn either today or Monday to cover losses stemming from the recent debt restructuring.
- FTSE 20 June future: Support levels: 178-172-166Resistance levels: 190-198-207.
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