Emergency step to prevent betting on Greek financial products

The European Securities and Markets Authority backs the temporary ban on short-selling, proposed by the Greek authorities

30 juin 2015 à 17h26

Pouvoirs

par Manon Malhère

Following Greece's decision to close its banks, stock exchanges and bond markets until 6 July, the Greek financial markets authority HCMC (Hellenic Capital Market Commission) decided, at the end of the day on 29 June, to ban short-selling for the same period. The goal is to prevent European markets from betting on the decline in value of Greek financial products negotiated on the Greek regulated markets (not over-the-counter) which are currently closed, an expert explained.

This exceptional emergency measure was…

EBF: EU can withstand Greek shock

The European Banking Federation (EBF) is concerned over the Greek situation, but nonetheless it said, on 30 June, that "the European economic and financial system is sufficiently robust to deal with possible adverse impacts. European banks in recent years have significantly reduced their exposures to Greece, greatly limiting the risk of contagion through the banking system to other countries."

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