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1999 Greek Stock Market Crash
The Greek stock market crash of 1999 is the sudden and sharp decline in the prices of most stocks on the Athens Stock Exchange (ATH), which began in the fall of 1999 and continued until the spring of 2003. This crash resulted in a significant drop in the total market capitalization of the Stock Exchange and a large reduction in nominal wealth for the majority of registered investors. The crash affected a large proportion of Greeks, as active investors had reached 1,5 million, and led to years of legal battles to find and punish potential culprits, hence becoming known widely as the "Stock Market Scandal", most of the accused were acquitted. The bubble The rapid rise in stock prices on the Stock Market, also known as the "Stock market bubble" had started as early as 1997. As described by behavioral economics, economic bubbles are due to a combination of biases that lead to group recklessness and foolish behavior. In the case of the Greek stock market bubble of 1997–1999, a combina ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Athens Stock Exchange
The Athens Stock Exchange (ASE or ATHEX; el, Χρηματιστήριο Αθηνών (Χ.Α.), ''Chrimatistírio Athinón'') is the stock exchange of Greece, based in the capital city of Athens. It was founded in 1876. There are currently five markets operating in ATHEX: regulated securities market, regulated derivative (finance), derivatives market, Alternative market, emissions trading, carbon market (for EUAs) and Over-the-counter (finance), OTC market. In the regulated securities market investors can trade in stocks, Bond (finance), bonds, Exchange-traded fund, ETFs and other related Security (finance), securities. On the #Stock exchange, stock exchange 172 stocks are currently traded representing 166 companies. ATHEX has over 30 Stock market index, indices. The six main indices are: #Composite Index, Composite Index (''GD''), FTSE/Athex Large Cap (''FTSE'', also known as ''FTSE 25''), FTSE/Athex Mid Cap Index (''FTSEM''), FTSE/Athex Market Index (''FTSEA''), FTSE/ATHEX Glob ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic And Monetary Union Of The European Union
The economic and monetary union (EMU) of the European Union is a group of policies aimed at converging the economies of member states of the European Union at three stages. There are three stages of the EMU, each of which consists of progressively closer economic integration. Only once a state participates in the third stage it is permitted to adopt the euro as its official currency. As such, the third stage is largely synonymous with the eurozone. The euro convergence criteria are the set of requirements that needs to be fulfilled in order for a country to be approved to participate in the third stage. An important element of this is participation for a minimum of two years in the European Exchange Rate Mechanism ("ERM II"), in which candidate currencies demonstrate economic convergence by maintaining limited deviation from their target rate against the euro. The EMU policies cover all European Union member states. All new EU member states must commit to partici ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2004 Summer Olympics
The 2004 Summer Olympics ( el, Θερινοί Ολυμπιακοί Αγώνες 2004, ), officially the Games of the XXVIII Olympiad ( el, Αγώνες της 28ης Ολυμπιάδας, ) and also known as Athens 2004 ( el, Αθήνα 2004), were an international multi-sport event held from 13 to 29 August 2004 in Athens, Greece. The Games saw 10,625 athletes compete, some 600 more than expected, accompanied by 5,501 team officials from 201 countries, with 301 medal events in 28 different sports. The 2004 Games marked the first time since the 1996 Summer Olympics that all countries with a National Olympic Committee were in attendance, and also marked the first time Athens hosted the Games since their first modern incarnation in 1896 as well as the return of the Olympic games to its birthplace. Athens became one of only four cities at the time to have hosted the Summer Olympic Games on two occasions (together with Paris, London and Los Angeles). A new medal obverse w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Naftemporiki
''Naftemporiki'' was founded in 1924 by brothers Panos and Giorgos Athanasiadis and it is the first financial newspaper in Greece Greece,, or , romanized: ', officially the Hellenic Republic, is a country in Southeast Europe. It is situated on the southern tip of the Balkans, and is located at the crossroads of Europe, Asia, and Africa. Greece shares land borders wit .... As of April 7, 2021, the newspaper was acquired through an auction by businessman Dimitris Melissanidis for 7 million euros. Newspapers established in 1924 1924 establishments in Greece Greek-language newspapers Newspapers published in Athens Daily newspapers published in Greece {{Greece-newspaper-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Second Cabinet Of Costas Simitis
The second (symbol: s) is the unit of time in the International System of Units (SI), historically defined as of a day – this factor derived from the division of the day first into 24 hours, then to 60 minutes and finally to 60 seconds each (24 × 60 × 60 = 86400). The current and formal definition in the International System of Units ( SI) is more precise:The second ..is defined by taking the fixed numerical value of the caesium frequency, Δ''ν''Cs, the unperturbed ground-state hyperfine transition frequency of the caesium 133 atom, to be when expressed in the unit Hz, which is equal to s−1. This current definition was adopted in 1967 when it became feasible to define the second based on fundamental properties of nature with caesium clocks. Because the speed of Earth's rotation varies and is slowing ever so slightly, a leap second is added at irregular intervals to civil time to keep clocks in sync with Earth's rotation. Uses Analog clocks and watches often have ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costas Simitis
Konstantinos G. Simitis ( el, Κωνσταντίνος Γ. Σημίτης; born 23 June 1936), usually referred to as Costas Simitis or Kostas Simitis (Κώστας Σημίτης), is a Greek politician who served as Prime Minister of Greece and was leader of the Panhellenic Socialist Movement (PASOK) from 1996 to 2004. Biography Costas Simitis was born in Piraeus to Georgios Simitis, a Professor at the School of Economic and Commercial Sciences, and to his wife Fani (née Christopoulou). He studied law at the University of Marburg in Germany and economics at the London School of Economics. He is married to Daphne Arkadiou (b. 1938), and has two daughters, Fiona and Marilena. He currently resides in the Kolonaki district of Athens. His brother Spiros Simitis is a prominent jurist specializing on data privacy in Germany. Political activity before 1981 In 1965 he returned to Greece and was one of the founders of the " Alexandros Papanastasiou" political research group. ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Giannos Papantoniou
Yiannos Papantoniou ( el, Γιάννος Παπαντωνίου; born 27 July 1949) is a former member of the National Parliament in Greece (MP) from 1988 to 2007, Minister of National Defense (2001−03), Minister of Economy and Finance (1994−2001). During his time as Economy and Finance Minister, he worked closely with his Economic and Financial Affairs Council partners to prepare for the launch of the Euro in Greece. For his achievements he was 'highly commended' by ''Euromoney'' magazine in September 1998 as Finance Minister of the Year. Prior to this, Papantoniou worked at the OECD (1978–81), served as a Member of the European Parliament (MEP) from 1981 to 1984, and as Advisor to the Greek Prime Minister on EEC Affairs and Integration. He was elected as chairman of the board of Governors of the European Bank for Reconstruction and Development (EBRD) in 1999. From 2009 to 2010, he was Visiting Senior Fellow in the Hellenic Observatory within the European Institute at the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Money Laundering
Money laundering is the process of concealing the origin of money, obtained from illicit activities such as drug trafficking, corruption, embezzlement or gambling, by converting it into a legitimate source. It is a crime in many jurisdictions with varying definitions. It is usually a key operation of organized crime. In US law, money laundering is the practice of engaging in financial transactions to conceal the identity, source, or destination of illegally gained money. In UK law the common law definition is wider. The act is defined as "taking any action with property of any form which is either wholly or in part the proceeds of a crime that will disguise the fact that that property is the proceeds of a crime or obscure the beneficial ownership of said property". In the past, the term "money laundering" was applied only to financial transactions related to organized crime. Today its definition is often expanded by government and international regulators such as the US Offi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Political Scandals In Greece
Politics (from , ) is the set of activities that are associated with Decision-making, making decisions in Social group, groups, or other forms of Power (social and political), power relations among individuals, such as the distribution of resources or Social status, status. The branch of social science that studies politics and government is referred to as political science. It may be used positively in the context of a "political solution" which is compromising and nonviolent, or descriptively as "the art or science of government", but also often carries a negative connotation.. The concept has been defined in various ways, and different approaches have fundamentally differing views on whether it should be used extensively or limitedly, empirically or normatively, and on whether conflict or co-operation is more essential to it. A variety of methods are deployed in politics, which include promoting one's own political views among people, negotiation with other political subje ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1999 In Greece
{{Greece-hist-stub ...
Events in the year 1999 in Greece. Incumbents Events * 7 September – The 6.0 Athens earthquake shook the area with a maximum Mercalli intensity of IX (''Violent''), killing 22, injuring 800–1,600 injured, and causing $3–4.2 billion in damage. * 19–20 November – U.S. President Bill Clinton arrives in the Athens for a visit to Greece and meet President Konstantinos Stephanopoulos and Prime Minister Costas Simitis. References Years of the 20th century in Greece Greece 1990s in Greece Greece Greece,, or , romanized: ', officially the Hellenic Republic, is a country in Southeast Europe. It is situated on the southern tip of the Balkans, and is located at the crossroads of Europe, Asia, and Africa. Greece shares land borders wit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economic History Of Greece
The economic history of the Greek World spans several millennia and encompasses many modern-day nation states. Since the focal point of the center of the Greek World often changed it is necessary to enlarge upon all these areas as relevant to the time. The economic history of Greece refers to the economic history of the Greek nation state since 1829. Earliest Greek civilizations Cycladic civilization Cycladic civilization is the earliest trading center of goods. It was extensively distributed throughout the Aegean region. Minoan civilization The Minoan civilization emerged on Crete around the time the early Bronze Age, it had a wide range of economic interests and was something of a trade hub, exporting many items to mainland Greece as well as the Egyptian Empire of the period. The Minoans were also innovators, developing (or adopting) a system of lead weights to facilitate economic transactions. Despite this Minoan civilization remained, for the most part, an agriculturally d ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stock Market Crashes
A stock market crash is a sudden dramatic decline of stock prices across a major cross-section of a stock market, resulting in a significant loss of paper wealth. Crashes are driven by panic selling and underlying economic factors. They often follow speculation and economic bubbles. A stock market crash is a social phenomenon where external economic events combine with crowd psychology in a positive feedback loop where selling by some market participants drives more market participants to sell. Generally speaking, crashes usually occur under the following conditions: a prolonged period of rising stock prices (a bull market) and excessive economic optimism, a market where price–earnings ratios exceed long-term averages, and extensive use of margin debt and leverage by market participants. Other aspects such as wars, large corporate hacks, changes in federal laws and regulations, and natural disasters within economically productive areas may also influence a significant decline ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
