Shares on the Athens Stock Exchange suffered more heavy losses Thursday, as the governing coalition appeared short of the support needed to stop the government collapsing in a parliamentary vote this month. Retreating for a third day, shares closed down nearly 7.5 percent, taking this week’s cumulative losses to around 20 percent. Meanwhile the yield on Greece’s 10-year-bond jumped to nearly 9 percent, way above levels thought as sustainable. Even though Greece has recently emerged from its brutal six-year recession and has made big strides to get its public finances into shape, the country has been thrown back into uncertainty following the decision earlier this week by conservative Prime Minister Antonis Samaras to call an early vote in parliament to elect a new president. To get his preferred candidate — Stavros Dimas, a former commissioner at the European Union — elected, Samaras will require support from opposition lawmakers in the 300-member parliament.Full Article: Greece: Markets hit as presidential vote in doubt | The Miami Herald.
Dec 12 2014