GREECE: Greece short selling ban could be lifted early

Friday November 9 2012

It is being reported that a ban on Greece short-selling stocks could be lifted early if equities keep climbing, the government wins the next slice of European Union bailout money and banks are recapitalized.

The Chairman of the Hellenic Capital Market Commission has been quoted in the media as saying “We are very open if things turn out positively to lift the ban even before the expiry of the three-month period. We have noted the new positive developments, both in markets and in the political landscape, but it would be for us a bad moment now before the two main events [of EU funds arriving and banks being recapitalized]. The maximum period for one ban is three months. Hopefully, if the situation becomes better, we’ll be able to lift it even before or see how things stand after the three months have elapsed.”

This information will be updated as further details become available.