ATHENS, Greece -- Greek financial markets are set to reopen today after a five-week suspension as talks continue with creditors on austerity measures and reforms required for a third bailout.
Local traders will be able to buy stocks, bonds, derivatives and warrants under certain conditions, according to the Finance Ministry. International investors won't face any restrictions, as long as they were active in the markets before they were shuttered in June.
The resumption of trading comes as Prime Minister Alexis Tsipras negotiates conditions that will be attached to an 86 billion euro lifeline to see the country through the next three years. An agreement is needed before a payment comes due on bonds held by the European Central Bank on Aug. 20. A euro is worth about $1.10.
Talks Friday with representatives of the International Monetary Fund, the European Stability Mechanism, the European Commission and the European Central Bank were held in "a very good climate and will continue," Finance Minister Euclid Tsakalotos said Friday. "There has been convergence in some areas and less in others."
Greece imposed capital controls June 28 and shut its banks and financial markets after Tsipras ended talks with creditors about a bailout in order to hold a referendum. He then reversed course and agreed to implement creditor demands in exchange for a rescue package.
About a quarter of Tsipras' Syriza-party lawmakers defected in July, effectively stripping the premier of his parliamentary majority and forcing him to rely on opposition support.
A Section on 08/03/2015