AlQa'dah 26, 1432, Oct 24, 2011, SPA -- Shares in Greek banks plunged on the Athens Stock Exchange Monday amid expectations they will have to accept higher than agreed losses on the country's government bonds as part of a new eurozone debt deal, as AP reported. Greek banks hold billions in the country's government debt, and investors fear they will be unable to withstand losses on the bonds without some form of state support. Bank stocks closed on average nearly 17 percent lower on Monday, pulling the exchange's general index down 4.51 percent to 747.08. Other European stock indexes were buoyed by the prospect of a debt agreement. Leaders of the 17-nation eurozone, fearing the crisis could spread from debt-shackled countries like Greece to larger economies, failed to clinch a comprehensive debt deal at a weekend summit in Brussels. They expect to finalize an agreement by Wednesday.
