Greek stocks are tanking ahead of a key vote Greek stocks tanked today ahead of a key vote which has left the country and broader eurozone teetering on the edge of yet another political crisis. Greece’s blue chip index was down as much as 7.9 per cent, dragged lower by banks such as the National Bank of Greece and Alpha Bank. If reflects investor nerves ahead of a presidential vote which could cause market chaos if its fails to appoint a successor to President Karolos Papoulias. Today’s vote is the third in a series of voting rounds which have so far failed to result in a new president. This would put the country on its way to snap elections in early 2015 and commentators say this could pave the way for anti-austerity party Syriza to come into power. There are fears this could ignite anti-austerity sentiments in other peripheral European countries such as Spain and Italy. Spain’s IBEX and Italy’s FTSE MIB were both down around 1.6 per cent in mid-morning trading. Source: cityam/ newsinlondon/greek-stocks-are-tanking-ahead-of-a-key-vote/
Posted on: Mon, 29 Dec 2014 11:05:21 +0000
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