johngaltfla.com / by John Galt / November 5, 2015 20:10 ET
The Athens Stock Exchange crashed again and no one has noticed.
After the apparently rigged elections earlier this year the smart money began liquidating it’s positions in Greece and taking their Euros back home to Berlin and Brussels as the economy is now imploding further as the financial system starts to crater worse than when the crisis began. The chart above reflects the Athens SE getting ready to retest it’s 1990 lows; not recent lows, it’s 1990 LOWS!
From the International Business Times article on the Greek bank recapitalization plan due on Friday:
“The growth issue is a big question mark,” said Marco Vicenzino, director of the Global Strategy Project, a geopolitical risk and international business advisory firm. Vicenzino described Greek citizens worrying about how recapitalization will affect daily activities, such as whether families can provide necessities or if small businesses will be able to pay their employees. Many Greeks are not optimistic, according to Vicenzino: “Most people don’t see the light at the end of the tunnel.”