Saturday, April 23, 2011

London trader's email 'damaged Greek economy'

A London trader is expected to be questioned by police after being accused by the Greek authorities of sending an email designed to stir up rumours of a plan to restructure debt in the embattled country.

According to The Independent, Paul Moss, of Citigroup, was said to have rattled nervous investors, leading to a drop of 4.6 per cent in Greek bank shares on Wednesday, after allegedly sending a message saying the country could restructure its debt as soon as the weekend.

Greece has been excluded from financial markets since it suffered a debt crisis last year. Authorities have insisted the debt is sustainable but its scale and a continuing slump in the country have led markets to anticipate a restructuring.

Armenian News

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