NEW YORK (TheStreet) -- The National Bank of Greece (NBG) shares continue to fall on Thursday, down 7.3% to $1.84 in trading, as Greek stocks, especially banking stocks, suffer in the wake of Prime Minister Antonis Samaras' announcement that the country will hold presidential elections next week, two months earlier than scheduled.
If Samaras' party candidate Stavros Dimas, who needs 180 of Greece's 300 parliamentary votes to be installed as president, fails to win the December 17 election, then snap parliamentary elections could be triggered.
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Anti-Eurozone sentiment among Greek citizens has analysts and investors worried that parliamentary elections may sweep the anti-bailout, pro-default Syriza party into power.
The Athens Stock Exchange was down almost 8% today, just two days after the exchange saw its worst plunge since 1987.
TheStreet Ratings team rates NATIONAL BANK OF GREECE as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate NATIONAL BANK OF GREECE (NBG) a SELL. This is driven by a number of negative factors, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. Among the areas we feel are negative, one of the most important has been a generally disappointing historical performance in the stock itself."