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Greek market hits 3-year low on debt crisis

18th June 2015

The ongoing Greek debt crisis remains the driving impetus behind European stock markets on Thursday June 18th. However, Greece appears to be bearing the brunt of the decline.

Greece’s main ATG index collapsed around 3.5 per cent in morning trading on Thursday, hitting a series of fresh three-year lows. Since Thursday last week, the Athens stock market has tumbled nearly 20 per cent on rising uncertainty.

Risk of a Grexit is rising, and investors are increasingly worried that the long drawn out negotiations will amount to nothing.

David Madden of IG said the pressure is "intense", even by Greek debt crisis standards, and one by one dealers are "ducking out of the market".

European finance ministers are due to meet today, and there’s little on the agenda apart from Greece. The finance minister of Belgium noted to reporters that it “all depends” on what Greece proposes, and he doesn’t know what they are coming up with. If there are reasonable proposals, they will be discussed, he added.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.