European banks lost over 50 milliard euro because of Greece situation

 The most become cheaper papers of credit organization of Portugal, Spain and Italy

43918_image_largeEuropean banks lost 50 milliard euro of market value after Greece imposed control under money movement because of failure of conversations with creditors in 28 June, announced Bloomberg.

Index Stoxx 600, which includes capital stocks of European banks, went down in trading on 4.4% - that is the worst index since November 2011. The most became cheaper papers of credit organizations of Portugal, Spain and Italy. Capital stocks of Portuguese Banco Comercial Portugues became cheaper om 9.1%, Spanish Banco Popular Espanol – on 6.5%, Italian Banca Monte dei Paschi – om 7.2%.

It is to be recalled that Greece banks have been closed since Monday. Greece government initiated limit on ATM cash withdrawal to 60 euro a day. The stock exchange will remain closed.

June 30 Greece must repay 1 billion 600 million euro of debt to the IMF, but does not have the funds still hoping to get them from creditors. Non-repayment of debt will mean a Greek default.

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