Greece ETF Gets New Index, Name

Leading the race to the bottom, Greek bank stocks plunged an additional 24% on Monday, the most since August – Eurobank Ergasias SA, Piraeus Bank SA and National Bank of Greece SA all plummeted over 27%. The banks have been struggling with over 100 billion euros, or $111 billion, in non-performing loans and additional capital controls implemented last summer.

The Greek government is still haggling with creditors over additional austerity measures, such as pension cuts and social security overhaul proposals. Greece could be cash strapped by the middle of the year if the government fails to acquire additional funding.

Global X FTSE Greece 20 ETF