Greece ETF Choppy on Bailout Uncertainty
November 12th 2012 at 9:24am by John Spence
Global X FTSE Greece 20 ETF (NYSEArca: GREK) was down to open the week after the country passed its 2013 budget but investors continued to worry European leaders won’t approve more financial aid.
Eurozone leaders are meeting Monday but will not authorize bailout funds because there is still no agreement on how to make Greece’s debts sustainable, Reuters reports.
“Finance ministers meeting in Brussels should, however, give Athens two more years to meet its goals in talks about unfreezing lending to Greece,” it said.
The Athens General Index was down more than 3% on Monday.
The opinions and forecasts expressed herein are solely those of John Spence, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.