Greece extends short selling ban yet again
01 May 2013 Athens
Image: Shutterstock
Greece's capital markets regulator has decided to extend its ban on short selling until the end of July, stating that the decision was due to the countrys recapitalisation plan.
In a statement, the Hellenic Capital Markets Commission (HCMC) said that its board considered the process of recapitalising the lenders in its decisionreferring to the 50 billion set aside to inject capital into the country's four big banks, and to scrap some smaller lenders.
The European 厙惇勛圖 and Markets Authority (ESMA) published its opinion on the emergency measure, stating that it was appropriate and proportionate in relation to the countrys current situation.
ESMA considers that the measure which is targeted at credit institutions admitted to trading on the Athens Stock Exchange remains appropriate and proportionate to address the above mentioned threats that persist in Greece. 汞SMA considers that the duration of the measure is justified and appreciates the HCMCs statement in its notification of intent whereby the measure may be lifted during the period of enforcement of the measure, if appropriate.
HCMCs previous ban, introduced in November 2012 for three months, was extended in February.
In a statement, the Hellenic Capital Markets Commission (HCMC) said that its board considered the process of recapitalising the lenders in its decisionreferring to the 50 billion set aside to inject capital into the country's four big banks, and to scrap some smaller lenders.
The European 厙惇勛圖 and Markets Authority (ESMA) published its opinion on the emergency measure, stating that it was appropriate and proportionate in relation to the countrys current situation.
ESMA considers that the measure which is targeted at credit institutions admitted to trading on the Athens Stock Exchange remains appropriate and proportionate to address the above mentioned threats that persist in Greece. 汞SMA considers that the duration of the measure is justified and appreciates the HCMCs statement in its notification of intent whereby the measure may be lifted during the period of enforcement of the measure, if appropriate.
HCMCs previous ban, introduced in November 2012 for three months, was extended in February.
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