Cookie policy

By pursuing your navigation on our website, you allow us to place cookies on your device. These cookies are set in order to secure your browsing, improve your user experience and enable us to compile statistics. For further information, please report to our cookie policy.

Article (8/428)
Greece market snapshot
Greece market snapshot
Back

Greece market snapshot

27/11/2017

Greece went into a serious recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens’ failure to address a growing budget deficit. However in 2017, the country is no longer making headlines and the Greek economy began to turn the corner on the recession

Rising from its ashes

Greece achieved three significant milestones:

  • Balancing its budget – before debt repayments
  • Issuing government debt in financial markets in 2017
  • Generating 2.5% GDP growth in 2017 (BNP Paribas forecast).

Greece’s economy is expected to gather steam in 2017 if relations with creditors remain confident and the banking sector keeps recovering. Its economy and exports are still weakened by the capital controls in place since June 2015. However, Greece can rely on its tourism sector, which provides 18% of its gross domestic product. In addition, Greece is notably the world leader in the maritime shipping industry, possessing the largest merchant marine fleet in the world.

This visual represents a grey rectangular frame, where we present the greek economy with numbers and data visualisation. At the top left side there is the title “At a glance”. In the center of the frame, there is a table which fills the whole frame. In the first box, which corresponds to the intersection of the first column and first line, there is nothing, it is empty. In the second box, which corresponds to the intersection of the second column and the first line, it is written “1997”. In the third box, which corresponds to the intersection of the third column and the first line, it is written “2017”. In the fourth box, which corresponds to the intersection of the first column and the second line, it is written “population” with two fellows’ pictogram. In the fifth box, which corresponds to the intersection of the second column and the second line, there are eight fellows’ pictogram, with 5 in dark green and 3 in white, accompanied by a blue bubble where it is written “10.6mn”. In the sixth box, which corresponds to the intersection of the third column and the second line, there are eight fellows’ pictogram, with 5 in dark green and 3 in white, accompanied by a blue bubble where it is written “10.8mn”. In the seventh box, which corresponds to the intersection of the first column and the third line, there is written “Gross Domestic Product” accompanied by a bourse pictogram. In the eighth box, which corresponds to the intersection of the second column and the third line, there is a bourse pictogram filled half-filled in by dark green, accompanied by a blue bubble where it is written “$143bn”. In the ninth box, which corresponds to the intersection of the third column and the third line, there is a bourse pictogram filled half-filled in by light green, accompanied by a blue bubble where it is written “$193bn”.  In the tenth box, which corresponds to the intersection of the first column and the fourth line, it is written “GDP per capita”, accompanied by two stock of pieces pictogram.  In the eleventh box, which corresponds to the intersection of the second column and the fourth line, there is a four stock of pieces pictogram, with two and a half in dark green, accompanied by a blue bubble where it is written “$13,486”. In the twelfth box, which corresponds to the intersection of the third column and the fourth line, there is a four stock of pieces pictogram, with three and a half in light green, accompanied by a blue bubble where it is written “$17,806”. At the bottom right side of the grey frame, there is written “source: world federation of exchange, june 2017”. Under the source, at the bottom center of the grey frame, it is written, in a blue frame, “sovereign risk rating: B with a negative outlook”. Under this blue frame, at the bottom right side, it is written “source: standard & Poors”.

Linking investors to greek markets

BNP Paribas Securities Services has been in Athens since 1997. Throughout these years, even during the crisis, we have always been at the forefront of major market evelopments and enjoy excellent relations with Greek market authorities.

Despite the introduction of capital controls in 2015 and heightened financial uncertainty, we managed to stay close to market authorities and get legal opinion on the legislative acts, in order to provide our clients with updated information and high quality services.

We are actively involved in market initiatives and practices. In 2015, the successful and seamless implementation of T2S was a demonstration of our commitment to this major market change. The transfer to the new platform took place without any business disruption.

Furthermore, in Greece, we are seen as the voice of the non-resident investors thanks to our unique leadership positioning in the country and our global experience as a major international bank. Our strategy is to continue steady growth over the next years by developing our client asset servicing and reporting and by continuously investing in new technologies. An upgrade in our internal and external connectivity infrastructure has recently been performed. This secures the system and connection efficiency.

This visual represents a grey rectangular frame, where we present the greek economy with numbers and data visualisation. At the top left side there is the title “At a glance”. In the center of the frame, there is a table which fills the whole frame. In the first box, which corresponds to the intersection of the first column and first line, there is nothing, it is empty. In the second box, which corresponds to the intersection of the second column and the first line, it is written “2012”. In the third box, which corresponds to the intersection of the third column and the first line, it is written “2017”. In the fourth box, which corresponds to the intersection of the first column and the second line, it is written “domestic market capitalisation” with an acropolis pictogram and “Athens stock exchange (ATEHEX)” written under this pictogram. In the fifth box, which corresponds to the intersection of the second column and the second line, there is an acropolis pictogram, accompanied by a blue bubble where it is written “$30.2bn”. In the sixth box, which corresponds to the intersection of the third column and the second line, there is a bigger acropolis pictogram, accompanied by a blue bubble where it is written “$50.3bn”. In the seventh box, which corresponds to the intersection of the first column and the third line, there is written “Number of listed companies” accompanied by a building pictogram and “Athens stock exchange (ATEHEX)” written under this pictogram. In the eighth box, which corresponds to the intersection of the second column and the third line, there are 27 little building pictograms, accompanied by a blue bubble where it is written “271”. In the ninth box, which corresponds to the intersection of the third column and the third line, there are 21 little building pictograms, accompanied by a blue bubble where it is written “210”. On the bottom right side of the grey frame, there is written “source: world federation of exchange, june 2017”.

 

Download the research paper:

Download the research paper

Follow us