Sunday , September 24 2023
Home / News / Economy / Athens Stock Exchange in free fall after PM’s fearmongering speech

Athens Stock Exchange in free fall after PM’s fearmongering speech

I suppose Prime Minister Antonis Samaras had a noble cause when he arranged that his speech to the parliamentary group of Nea Dimokratia should be live on television. The plan backfired. The PM mainly and fiercely attacked left-wing SYRIZA “for bringing back Grexit fears”and had stock marketers sell off even the panties they were still wearing.

Samaras used a lot of scaremongering No-No key words like “Grexit”, “bring the country back”, “doubts on primary surplus” and phrases like “some try to cancel the success of our country”, “everybody knows that SYRIZA is on collision course with Europe” and so on and so on. Of course, the prime minister was not addressing his own MPs only but all the MPs of all parties plus their voters via the television network.

It was expected that such a speech would scare the marketers more than the ND lawmakers who are called to vote for the country’s next President on upcoming Wednesday, December 17th.

The marketers reacted immediately and started the sell off of shares, causing the ASE to go down -5.42%.

The ASE was not able to recover anyway after the Black Tuesday, two days ago, when it hit a record of losses -13%.

Today, losses were between -1.5-2.5% on Thursday, but Samaras’ speech gave them a forceful kick downwards.

ASE course after PM’s speech 1:50-2:05 pm

 2:45 pm: losses are at -5.49% and the General Index at 844 units.

3:15 pm Losses -6.18%, General Index at 838 units.

3:37 pm  Losses -6.83%, General Index at 832 units.

4:06 pm  Losses -7.92%, General Index 822 units.

The Horror Session closed at

5:19 pm Losses -7.35%, General Index 827.98 units.


In fact the prime minister was speaking to his own MPs and was criticizing main-opposition left-wing SYRIZA that has very good chances to win the next snap elections, should coalition government ND-PASOK fail to elect the next President of the Hellenic Republic.

A public opinion poll conducted by Alco for weekly magazine To Pontiki and published today, shows:

Syriza 28%

ND 23.2%

GoldenDawn 5.4%

Pasok 4.7%

KKE 4.3%

ToPotami 4.3%

IndGreeks 3.3%

Plus: others, do not know etc…

PS I should have made a list of how many times ND officials have brought down the ASE alone by attacking SYRIZA lol

Check Also

The phenomenon “Kasselakis”: Captain America for PM of Greece?

He is young, just 35 year old. And good looking: tall, well-built, with perfectly shining …