The sharp decline of the Athens Stock Exchange pushes downward across Europe today, with investors worried after the words of the new prime minister Alexis Tsipras who announced the dismantling of the austerity plan and the end of the program wanted by the EU bailout.
In his first speech in parliament yesterday, Tsipras has set itself on a collision course with the European partners. Friday, Standard & Poor's cut its rating on the sovereign debt of the country by putting more pressure on the government in the search for an agreement with international creditors.
11.30 Italian index greek ATG yields 5.2%, while the index of the banking sector marks a decline of 9.1%. National Bank of Greece, Alpha Bank and Piraeus Bank lost all between 7 and 10%.