ECONOMY

Botopoulos: Greece’s short-selling ban may be lifted early

Greece?s market regulator said yesterday a ban on short-selling stocks could be lifted early if equities keep climbing, the government wins the next slice of European Union bailout money and banks are recapitalized.

?We are very open if things turn out positively to lift the ban even before the expiry of the three-month period,? Constantinos Botopoulos, chairman of the Hellenic Capital Market Commission, said by phone.

?We have noted the new positive developments, both in markets and in the political landscape, but it would be for us a bad moment now before the two main events? of EU funds arriving and banks being recapitalized.

The Greek regulator introduced the short-selling ban in August 2011.

The restrictions were last extended at the end of October, and are currently due to expire on January 31.

?The maximum period for one ban is three months,? Botopoulos said.

?Hopefully, if the situation becomes better, we?ll be able to lift it even before or see how things stand after the three months have elapsed.?

[Bloomberg]