Greek stock exchange plummets

Greek stock market hits 22-year low

Greece's stock market has plummeted to a new 22-year low, over heightened fears of an economic collapse.

Reuters,

26 April, 2012

Athens' stock exchange, the Athex Composite, closed down 24 points at 503, a drop of 4.53% overnight.

Uncertainty in Greece has intensified despite EU leaders pledging support for the country, because no new measures have been announced yet to avoid a currency exit.

TVNZ's business presenter Nadine Chalmers-Ross told TV ONE's Breakfast she thought it could not get any worse for the Greek economy, "but it has".

"It's basically a continuation of the same theme, they're not feeling reassured that European leaders have got it covered," she said.

However the rest of Europe saw gains despite Greece's fall, with the German, British and French stock exchange all on the up.

Overnight London's FTSE 100 was up 84 points, Germany's DAX up 30, and the French markets up 35 points.