Greek markets battered by euro uncertainty

AP News
Posted: May 24, 2012 11:14 AM
Greek markets battered by euro uncertainty

Uncertainty over Greece's future in the eurozone is battering the country's financial markets, with investors unconvinced by European leaders' pledge to keep the country in the euro bloc.

Shares on the Athens Stock Exchange hit a new 22-year low Thursday, closing down 4.5 percent at 502.52, despite gains made elsewhere in Europe.

EU leaders on Wednesday expressed backing for Greece's place in the eurozone but announced no new measures to avoid its exit from the17-country currency union.

Bailed-out Greece is fighting shaky finances and rising unemployment in a fifth year of recession. It has failed to form a government after a May 6 general election and will hold a fresh poll on June 17.