On Wednesday, bank shares at the Athens Stock Exchange plummeted; the bank index dropped by almost 10%, while the General Index closed at 666.84 points, with 2.10% losses. The foreign rating agencies estimate that the problem consists in the non-performing loans, while investors fear that the Italian crisis might spread.
The situation was examined in a meeting at Maximos Mansion, headed by the Prime Minister. The government estimates that the drop does not correspond to the latest positive economic developments, and that this was the result of speculative pressures. It was also stressed that the government promotes a specific intervention plan that includes, among others, the further reduction of red loans and the consolidation of bank portfolios.