Last week, global optimism on stock markets began to subside. The leading western platforms kept on growing, but less potent local markets saw a sudden change in the trend.

The Greek issue was the center of attention for investors. During the Eurogroup (council of Finance Ministers of the euro-area) meeting on Monday, 16 February, Greece and the euro-area countries did not manage to draw closer their positions after Athens categorically rejected the proposal to extend the current assistance program. The Eurogroup took a firm stand and did not accept any alternative proposals to settle the financial crisis in Greece. On Friday, 20 February, the parties reached an agreement regarding the extension of the assistance program. However, at the beginning of the current week, Greece should submit the first list of reforms.

Financial markets survey 23.02.2015