Lex

Lex: Greece

The Athens stock market lost 1.2 per cent in early trading on Tuesday as investors absorbed news of the Greek government's plans to reduce the nation's budget deficit. On Monday prime minister George Papandreou had announced a crackdown on corruption and the introduction of tight controls on spending but the speech - which came after markets closed - disappointed market-watchers who had expected more decisive measures to reduce the budget deficit. John Paul Rathbone analyses the latest developments.