The Athens Market Is Getting Clobbered, And Banks Are Getting Destroyed

The Athens market is getting clobbered today.

chart

Photo: Bloomberg

That’s the main index, down over 2.7%, and as Greek journalist Efthimia Efthimiou observes, the bank index is down over 6%.

This comes a day after Greece was downgraded to ‘Selective Default’ by S&P, and the ECB said it would no longer accept Greek government bonds as collateral.

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