A dramatic hike of 3-year spreads and 10-year bonds with a dive of more than 4.3% on the Athens stock exchange followed statements of SYRIZA government ministers immediately freezing of all planned privatizations.

A big share of the Piraeus Port Authority and the power utility (PPC) were the most prominent candidates in the previous government often sluggish privatization plan.

Greek stocks dipped 10% since the start of the week with the Athens ATG index down 3.6%.

Analysts predict that losses on the Athens Stock Exchange (ATHEX) over the last two days surpass 5.5 bln euros. Spreads in 10-year-bonds climbed up 10.175 units (+5.15%) in relation to Tuesday. Three-year bonds climbed over 15%.

Shares of Piraeus Port Authority and the PPC fell by more than 7% on Wednesday following the announcement. Shares of the port authority were down 8.9% at 9.83 euros at 0902 GMT and the PPC was down 7.4%.