ECB gives green light for Athens Stock Market to reopen after monthly hiatus

The European Central Bank (ECB) approved on Tuesday a plan to reopen the Athens Stock Exchange.

According to Reuters, the Stock Exchange will reopen with restrictions on trading by local investors after a one-month closure that came with the imposition of a bank holiday on Greek banks and capital controls.

Restrictions will stay in place for about a week before a reassessment of the situation, according to ANA-MPA news agency.

Foreign investors are expected to be allowed unlimited transactions, according to major Greek daily Kathimerini, citing unnamed sources.

Trading will resume after the Greek finance ministry issues a ministerial decree on the matter, the official said, paving the way for the exchange to potentially open as of Wednesday.

"The ECB gave its approval," the official told Reuters on condition of anonymity. "The ECB approved the plan which envisages restrictions for Greek investors."

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