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| Greek shares plunge as market reopens | |
| (34 minutes later) | |
| The Athens Stock Exchange has fallen by 22.87% on Monday as trading resumed after a five-week closure. | The Athens Stock Exchange has fallen by 22.87% on Monday as trading resumed after a five-week closure. |
| The country's top four lenders - Piraeus Bank, National Bank, Alpha Bank, and Eurobank - were all down by 30%. Banks account for about a fifth of the main Athens index. | |
| The bourse was shut just before Athens imposed capital controls at the height of the debt crisis. | The bourse was shut just before Athens imposed capital controls at the height of the debt crisis. |
| Traders had predicted sharp losses as a result of pent-up trading. | Traders had predicted sharp losses as a result of pent-up trading. |
| 'Negativity' | |
| Not long after the reopen at 07:30 GMT, the Athex plunged to 615.16 points, down by 182.36 points from the 26 June close. | |
| Holly Cook, editor of financial website Morningstar.co.uk told the BBC that it was "not really surprising that we're seeing all this negativity building up". | |
| She said that the country's economy faced a potentially long road back to recovery. | |
| "We need to see what's going to come in the weeks and months ahead," added Ms Cook. | |
| Constantine Botopoulos, head of the Greek capital markets commission, told Skai radio: "Naturally, pressure is expected, markets will not fail to comment on such an extensive shutdown." | |
| He added: "But we must not get carried away. We must wait until the end of the week to see how the reopening will begin to be dealt with more coolly." | |
| Recession | |
| Although Greece struck a bailout deal with its creditors last month, political in-fighting in Athens over the conditions could still result in prime minister Alexis Tsipras calling an early election. | Although Greece struck a bailout deal with its creditors last month, political in-fighting in Athens over the conditions could still result in prime minister Alexis Tsipras calling an early election. |
| The Greek economy has begun to reverse the gains it was making before Mr Tsipras's Syriza-led coalition took power in January on an anti-austerity platform. | The Greek economy has begun to reverse the gains it was making before Mr Tsipras's Syriza-led coalition took power in January on an anti-austerity platform. |
| The European Commission expects Greece to go back into recession this year, with the economy contracting by between 2% and 4%. | The European Commission expects Greece to go back into recession this year, with the economy contracting by between 2% and 4%. |
| The Greek economy was in recession for six years until 2014. | The Greek economy was in recession for six years until 2014. |
| Are you in Greece? Are you a trader? What do you think about the fall in the Athens Stock Exchange? You can email haveyoursay@bbc.co.uk with your views. | |
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