ATHENS: The European Central Bank (ECB) did not accept the request of the Bank of Greece (BoG) and the Capital Market Commission for reopening the Athens Stock Exchange without restrictions for Greek investors, who will not be able to use existing deposit accounts to purchase shares.
According to the same sources, the stock exchange will open with restrictions for almost a week and then the situation will be reassessed.The stock market has been closed since June 29 when Athens shut its banks and imposed capital controls to avoid a run on deposits that threatened to collapse the tottering Greek financial system.
Banks reopened last Monday and Greece submitted a plan to the ECB last week for an opinion before a decision was made by the Greek Finance Ministry that would allow the stock market to resume trading on Monday.
