Greek bank shares crashes 30% on reopening

     

   Following the news on Greece debt defaults and the melt down which has caused major part of the economy to seize up.

    There was a bail out by the International Monetary Fund(IMF), the European Central Bank(ECB) and the European Commission 

     Greece suspended all trading at the end of June when the country fell into default on its debt. Capital controls were introduced, including the closure of banks and financial markets, to prevent billions of euros from flooding out of the country. ATM withdrawals were limited to 60 euros per day.

  Greek's financial market staged a come-back but barely some hours after trading resumes Monday, Bank shares crashed 30% on Athens Stock market,Stocks in other sectors recovered slightly during the morning but the index was still down by more than 16% by early afternoon.