Greek Companies Lose 85% of Their Value Since 2007



marketA lot has changed between 2007 and 2015. One of the major changes in the economic sector was the average price of Greek companies, which changed a lot in just a matter of eight years.

The Independent noted a dramatic fall in the value of Greek businesses from 2007 to 2015, while banks appear to have received the heaviest blow. According to the British newspaper’s publication “the re-opening of Greece’s stock exchange after five weeks sent the market into one of the biggest single-day nose dives in the history of stock market trading, leaving Greek companies worth 85 per cent less than they were in 2007.”

CMC Markets UK’s Jasper Lawler explained “that the ongoing money problems with Greece and the EU would naturally hit bank stocks first,” noted the Independent. “Dropping by over 20% in a single day is almost unprecedented for the benchmark stock index of a developed country and really is an utter pasting. It puts recent moves in China to shame. The uncertain solvency of Greek banks had investors moving hand over fist to dump the shares as quickly as possible before the Athens stock exchange’s maximum loss for an individual issue was reached and trading halted,” he said.

Meanwhile, investors are facing several strict prohibitions in Greece, which further complicate their work.


4 COMMENTS

  1. Somebody tell me why we are better off after joining the EZ than before? Does anyone in the Pro-EZ parties of SYRIZA, ANEL, ND and PASOK see the cannibalization of Greece’s industries as an improvement? How about collateralizing ourselves into becoming stateless persons just to service an unsustainable debt?

  2. The answer lies in why countries want to be part of Europe. Greece would still be a broken down near third world country without Europe. Look at most Asian countries, the disease the disorder the dirt. You could not see Athens from the Acropolis in the 80’s and 90’s due to pollution buildings were falling apart. European money and contacts brought order and tried to bring system. The blame is with the governments who lied and gorged on all the money thinking that it was free. Give a person knowledge and tools and he can make a car. But don’t blame the car for it being driven off the cliff.

  3. Zante by your comment I ask have you been to Greece lately? Have you seen the closed factories, empty piers, abandoned houses and shuttered shops, Have you not seen the smog in winter from wood fires as people burn wood to heat and cook. Did you miss the tent camps in parks sidewalks and beaches or the drug addicts, beggars and prostitutes on the streets. All this did not exist before Greece entered the EZ. So tell me HOW are we better off now.

  4. i was there last year at the end of winter. Near Easter. And 3 years ago. I stayed in kalithea plaza and plaka. I saw the closed shops 3 years ago. Now new shops were open. I saw large car companies investing in large showrooms. I saw a new supermarket complex near the airport. I saw people repairing the buildings around plaka. I saw signs of recovery. Nor huge but there. The square in acharne was broken down which some old cafes. Now the youth were there with new cafes. As for the smog perhaps you are young but in the 90’s and early 2000’s you could not see the sea from the Acropolis now not only can you see the see but you can see the Parthenon from parnitha. I took a photo because I was in awe of how beautiful it was. ….. Europe paid for all that.