The Athens Stock Market Is Getting Destroyed

Greek protests violence

Photo: SKAI.gr

The Greek stock market is not reacting positively to the news that the government managed to pass its austerity vote yesterday.The Athens market is down 2.5%, and as Efi Efthimiou notes on Twitter, banks are down 8%!

So what’s the bad news? One possibility is that it was clearly a Pyrrhic victory for the Greek government.

As explained by Ekathimerini, the government had to eject several lawmakers for voting against the bill, meaning its already narrow ruling majority is reduced even further, presaging more trouble ahead.

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