Europe News

Greek stock market to reopen Monday

The stock exchange in Athens is set to reopen next week after a closure of more than a month, amid tough bailout negotiations for the debt-stricken country.

Costas Botopoulos, the head of the Hellenic Capital Market Commission, told CNBC on Friday that the exchange would open on Monday August 3.

Following Botopoulos's announcement, the Greek government issued a ministerial decree allowing the stock exchange to open at the beginning of next week -- however with restrictions for domestic investors, Reuters reported.

Inside the Athens stock exchange.
MIlos Bicanski | Getty Images

The Greek government has begun talks with its international creditors in the hope of agreeing a third bailout for the country. This comes after a referendum in Greece on tough austerity reforms and a debt default on the money it owed the International Monetary Fund.

In addition to stock markets, Greek banks were closed for three weeks, but then reopened on July 20.

Monday's stock market reopening, if completed, will add to a slight sense of stabilization in the country after weeks of riots, last-ditch negotiations and emergency financing.

It will also be a chance for investors to realize any potential losses and many will be keen to see how much capital Greek banks are left with, as trading resumes and the stock market stabilizes.

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