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Georgia: Election Shock for Markets/FT Reports

Published: October 4, 2012 | 1:04 pm
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The COMMERCIAL TIMES

A shock result in the Georgian election has sent investors running for cover, says Financial Times in its October 2 article.

As Neil Buckley reported for the FT, the prospect of a government defeat and/or a disputed result has hit the markets – shares in Bank of Georgia, the country’s only internationally-listed stock, were down 2.6 per cent in early London trading.

While Saakashvili has dominated Georgia since the 2003 Rose Revolution as president, his powers are set to be curbed by of a constitutional reform that goes into effect next year giving parliament greater powers at the expense of the presidency. So this parliamentary election matters more than any other under his rule. No wonder investors are suddenly nervous, concludes the article.

 

 

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