Greek executives more optimistic, EY survey

29 December 2015
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Greek company executives are cautiously optimistic over the outlook of the economy and company results, with a 53 pct expecting the Greek economy to improve or remain stable, while a 52 pct of them expect corporate profits to improve, Ernst & Young said its 13th Global Capital Confidence Barometer, a survey held in 53 countries.

The survey recorded the highest levels of takeover mood in its six-year history. After a period of political and economic uncertainty, enterprises seemed to focus more to growth (55 pct from 20 pct in April) and less to cutting spending (29 pct from 51 pct in April), while they were markedly more optimistic over new job creation (39 pct from 19 pct in April).

The survey showed that 45 pct of executives expected an improvement in market conditions, while a 47 pct (up from 43 pct in April) said it planned to seek acquisitions, both inside and outside the country’s borders.

Tasos Iosifidis, head of Financial Advisors Department in EY, commenting on the survey said that Greek company executives seemed to gradually overcome reasonable worries of the previous months and stressed that a return to normality, a stabilization of the banking system and adopting realistic solutions to resolve the non-performing loans issue would pave the way to more consolidation in Greek economic sectors through mergers and takeovers, along with growth stategies through investments abroad.

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