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Thread: Being Greek Is Bad Business for Some.

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    Curmudgeon


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    Being Greek Is Bad Business for Some.

    Being Greek is bad business for some. Just ask yogurt maker Fage. - The Washington Post

    The company where Vrachnakis works, Fage, was threatened this year with a ratings downgrade simply because its headquarters were in Greece, which is in the middle of a depression-level crisis. So in October, the yogurt company took a drastic step. Fage, which was founded in Athens in 1926, is now based in Luxembourg. The threat of a downgrade from one ratings agency evaporated within days.

    Many healthy Greek companies are being penalized because of the chaotic conditions surrounding them and some are starting to move to richer, more-stable climes.
    So healthy companies are moving out of Greece if they can. So much for growing out of the crisis.

    The same will be happening in the US soon enough. The Obama administration is betting that the economy will kick in and grow the country out of the economic crisis and out of the deficit, but that can't happen if companies start to leave. Or, I should say, continue to leave:

    U.S. Firms Move Abroad to Cut Taxes - WSJ.com

    "The urge to save humanity is almost always a false front for the urge to rule." --HL Mencken

  2. #2
    Sage
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    Re: Being Greek Is Bad Business for Some.

    Well interested parties can always come here. From USA that is

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