Athens Stock Exchange expected to open Tuesday, with restrictions


The Athens Stock Exchange is expected to open on Tuesday after a three-week closure that came with the imposition of a bank holiday on Greek banks and capital controls.

According to sources, the bourse will reopen with restrictions, in line with demands by the European Central Bank which fears that major losses could shake the banking system.

Foreign investors are expected to be permitted unlimited transactions.

Greek investors will be able to buy stocks either with new money (cash or transfers from abroad) or using cash available in the residual credit of brokerages.

Market sources indicated that the restrictions could be lifted after about a week.