Nearly three weeks after the announcement, no draft has surfaced, raising concerns among market participants.
The proposed legislation was expected to introduce incentives for companies—particularly small and medium-sized enterprises (SMEs)—to list on the Athens Stock Exchange (ATHEX). However, its absence has cast doubt on the government’s commitment.
The consultation process is seen as crucial, yet Greece’s financial policymakers and regulators, have often been criticized for their detachment from market realities. Legislative drafts are typically prepared behind closed doors before engaging with stakeholders, leading to regulations that create more barriers than solutions.
Cyprus, by contrast, is taking a more proactive approach. The Cyprus Securities and Exchange Commission (CySEC) recently organized a high-level roundtable on strengthening the Cyprus Stock Exchange (CSE), bringing together officials from the Ministry of Finance, stock market representatives, and key financial players. The discussions centered on measures to reignite investment interest, including the introduction of startup securities, the issuance of government and semi-government bonds, and tax incentives for listed companies.
In addition, Cypriot authorities stressed the importance of technological upgrades for the stock exchange and the need to improve financial literacy among investors to boost confidence in the market.
These proposals are set to be translated into legislation and enacted in the coming months.
Meanwhile, Greece’s approach remains sluggish. Rather than engaging stakeholders before drafting new laws, policymakers continue to make unilateral decisions—leaving businesses and investors questioning the country’s willingness to foster a more dynamic and competitive capital marke
