May 23, 1955

CRISIS ON ATHENS STOCK EXCHANGE: During yesterday’s meeting of the board of the Athens Stock Exchange (ASE), some of the board members raised the issue of the ASE’s extended inactivity. Some members attributed the situation to indifference on the part of the buying public, due, in their view, to the Papagos government’s failure to implement the measures it had promised to restore credit. This view was rejected by the majority of board members, who suggested sending a memorandum to the government proposing action that was needed to revive transactions. Nevertheless, tempers flared during the discussion, with the result that the ASE president submitted his resignation. The vice-president, who normally would succeed him, submitted his own resignation, followed by all the members of the board. PICASSO AT THE ZAPPEION: The National Art Gallery opens its doors to the public tomorrow at the Zappeion Hall. The exhibits, largely renewed, include paintings from the collection of the late A. Benakis, as well as works to be exhibited for the first time since the war and others by modern French painters such as Picasso.