Greece news live: Shares suffer worst ever one-day fall as stock market opens for the first time
Hello and welcome to today’s live coverage of events in Greece.This morning will see the resumption of trading in Greek stocks for the first time since the markets were shut under capital controls on June 28.
Banks are set to bear the brunt of the sell-off with lenders expected to see as much as 20pc wiped off their value this morning, according to analysts.
The country’s four main banks make up around a fifth of the Athens Stock Exchange and although trading of Greek shares has been suspended, National Bank of Greece’s US-listed shares have lost around 20pc over the last five weeks.
Banks are particularly vulnerable as they are set to require a huge recapitalisation effort to regain some financial stability. Reports in the Greek media at the weekend said the government has valued the effort at around €10bn – a sum which will likely come from European rescue funds.
Słówka do zapamiętania
coverage – sprawozdanie, relacja
resumption – wznowienie
brunt – impet, siła
lender – pożyczkodawca, pożyczający
expect – spodziewać się
according – według, zgodnie z
suspended – zawieszone
particularly – w szczególności
vulnerable – podatny, wrażliwy
regain – odzyskać
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