Athens stock market plunges

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Athens stock market plunges

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Fears over Greece’s economic future mean the massive sell off continues on the Athens Stock Exchange.

On Friday it opened at a historical low with the general index dropping below the psychological important 500 mark for the first time in over 20 years.

The index finished Friday’s session down 3.4 percent, just above the 500 level. It is down close to 90 percent from its high in 2007.

Uncertainty ahead of the June 17 election is spooking investors as the outcome will determine if Greece stays in the eurozone.

Greece was forced to call a repeat election after a May 6 vote left parliament divided evenly between groups of parties that support and oppose the austerity conditions attached to a 130 billion euro rescue agreed with lenders in March.