Greece now reaping what it has sown, Coke bottler is leaving

H

hughb

http://news.yahoo.com/greeces-biggest-company-bottler-cch-quits-switzerland-103701309--sector.html

CCH has become the country's biggest firm by market value with a capitalization of around 6 billion euros ($7.7 billion), representing about a fifth of the Athens bourse's total. Typical daily trading in its shares has represented close to 10 percent of average volume on a Greek stock market where trade had already halved over the past year, squeezing broking firms.

The company, which last year made net profit of 330 million euros on sales of 6.85 billion, has also complained of high taxes imposed under Greek government austerity measures
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And how the hell is a soda bottler the biggest company in your country? What about their aircraft manufacturers? Oil drillers/refiners? Electronics manufacturers? Oh, never mind.
 
My wife and I were in Greece last summer. What's going on there is depressing. Very sad.

The Greek economy is shrinking by more than 5% a year. Over 25% unemployment. Parents are telling their children to leave the country to find jobs. An economic death spiral.

Eventually, Greece will leave the Euro and return to its own devalued currency (probably 30-50% devaluation relative to Euro).

The best strategy is to have as little invested in Greek assets as possible. More companies will leave Greece in the next 12-24 months.
 
So Greece is in Great Depression mode.

11 October 2012 Last updated at 14:49

Unemployment in Greece hit a record 25.1% in July, with the level among young people reaching 54.2%, according to the latest official figures.
 
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