Two groups mulling exit from Greece

Kathimerini English - - Front Page - ANESTIS DOKAS

Two ma­jor in­dus­trial groups listed on the Athens Ex­change are said to be on the verge of de­cid­ing to move their head­quar­ters abroad in 2016, Kathimerini un­der­stands.

Ac­cord­ing to sources, their main share­hold­ers be­lieve that the gov­ern­ment is be­ing too slow in its ef­fort to change the eco­nomic cli­mate and per­sonal dis­cus­sions with cabi­net mem­bers have sug­gested that en­trepreneur­ship in Greece is not a pri­or­ity for the coun­try’s ad­min­is­tra­tion.

One of the two en­trepreneurs close to mov­ing abroad told Kathimerini that “the im­po­si­tion of the cap­i­tal con­trols on June 28 was the straw that broke the camel’s back. Es­pe­cially for ex­port­ing com­pa­nies like us, it cut our oxy­gen sup­ply.

“We view this sit­u­a­tion like the col­lapse of Lehman Broth­ers, when we sud­denly found our­selves in a void on in­ter­na­tional level, with dozens of or­ders can­celled and ex­posed with bank checks.”

The ex­am­ples of the com­pa­nies that have al­ready left Greece (FAGE, Coca-Cola HBC and Vio­halco) are paving the way, as their com­mon tar­get has been to main­tain their com­pet­i­tive po­si­tion in the in­ter­na­tional mar­kets. In Vio­halco’s case, af­ter sev­eral years of losses the com­pany has re­turned to prof­its this year, which is to a great ex­tent at­trib­uted to the weak­en­ing of the euro against the dol­lar and the re­turn of the pro­duc­tive in­vest­ments made in re­cent years.

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