Europe News

Greek market to remain closed on Monday: Official sources

Inside the Athens stock exchange.
MIlos Bicanski | Getty Images

The Greek stock exchange will remain closed on Monday but might reopen on Tuesday after a one-month shutdown, official sources said.

"It's certain that it will not open on Monday, maybe on Tuesday," a spokesperson for the Athens Stock Exchange told Reuters on condition of anonymity.

Another person with direct knowledge of the matter confirmed that Greek authorities aimed to reopen the bourse on Tuesday.

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The stock market has been closed since June 29 when Athens shut its stricken banks and imposed capital controls to stem a run on deposits that threatened to collapse the tottering Greek financial system. The shutdown has put at risk the bourse's place in global securities indices.

Banks reopened last Monday and Greece submitted a plan to the European Central Bank last week for an opinion before a decision was made by the Greek finance ministry which would allow the stock market to resume trading as early as Monday.

The Athens Stock Exchange official said Greece needed more time to finalise the details which would allow the market to reopen based on ECB's opinion.