Greek stockmarket re-opens – and crashes

The Greek stockmarket, closed this the latest crisis, reopened this week and promptly plunged.

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The Greek stockmarket, closed when the latest crisis came to a head in late June, re-opened last Monday and promptly plunged. It closed 16% down, its worst performance since the global crash of 1987. The banks, which had been bleeding capital before they were closed for three weeks, fell by 30%, the daily limit, in a few minutes. The Athens General index slipped a little further the next day.

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Andrew Van Sickle
Editor, MoneyWeek

Andrew is the editor of MoneyWeek magazine. He grew up in Vienna and studied at the University of St Andrews, where he gained a first-class MA in geography & international relations.

After graduating he began to contribute to the foreign page of The Week and soon afterwards joined MoneyWeek at its inception in October 2000. He helped Merryn Somerset Webb establish it as Britain’s best-selling financial magazine, contributing to every section of the publication and specialising in macroeconomics and stockmarkets, before going part-time.

His freelance projects have included a 2009 relaunch of The Pharma Letter, where he covered corporate news and political developments in the German pharmaceuticals market for two years, and a multiyear stint as deputy editor of the Barclays account at Redwood, a marketing agency.

Andrew has been editing MoneyWeek since 2018, and continues to specialise in investment and news in German-speaking countries owing to his fluent command of the language.