Market gitters amid negative political climate in Athens

The Athens Stock Exchange opened on Friday with drop of 0.30 to 0.40 percent and was hovering at the 681-point level amid gitters after another marathon session in Greece’s Parliament to ratify terms of the third memorandum with international creditors.

Political “theatrics” in parliament and the ongoing holiday season kept interest and turnover low.

Nevertheless, markets remain on edge as the SYRIZA government has essentially lost its Parliament majority and now relies on the opposition to pass legislation. A vote of confidence may be sought by PM Alexis Tsipras after  Aug. 20, while the negative political climate in Athens — yet again — may lead to an interim “bridge loan” program in place of an overall bailout package.

All eyes are now on the Eurogroup meeting on Friday in Brussels, expected to begin in the afternoon.