Greek capital market officials optimistic over 2016 outlook

4 January 2016
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Greek capital market officials appeared optimistic over the outlook of 2016, after a negative 2015, at the opening session of the new year in the Athens Stock Exchange on Monday.

Capital Market Commission president Chr. Gotsis said he expected 2016 to be a better year for the economy and the stock market as he expected a significant improvement in macro-economic data after the country left behind two serious risks: the risk of a haircut in bank deposits following a successful recapitalization of Greek banks and the risk of a Grexit, while an anticipated debt rescheduling could lead the Greek economy back to international capital markets. “All these could lead to a significant recovery in the stock market and the state bond market,” Gotsis said.

Ioan. Georganas, chairman of the Hellenic Exchanges Group, said the Athens Stock Exchange will celebrate 140 years of operation this year and said he expected 2016 to be a better year on two preconditions: preserving political stability and controlling public finances.

Socrates Lazaridis, chairman of the Athens Stock Exchange, said that the dominant feeling in the market was optimism for 2016 over market trends. He attributed a 25 pct drop in the market last year to a decline in bank shares while non-financial shares grew 5.0 pct in 2015 and daily turnover grew 8.0 pct compared with the pessimistic scenario for the market. Lazaridis said a mobilization of investment banking was necessary to attract new companies and bonds in the market.

Theodore Fessas, president of the Federation of Hellenic Enterprises (SEB) said that the Greek economy must attract investments, mostly foreign, in 2016 to create new job positions necessary for social prosperity and peace. He noted that 2015 was the year that the Greek economy was firmly established as a Eurozone country.

Pan. Drakos, president of the Union of Listed Companies, said he was optimistic for 2016 and underlined the significance of a privatization programme currently underway.

Sp. Kyritsis, president of the Association of members of the Athens Stock Exchange expressed the hope that the recovery of the economy will begin 2016.

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