Greece's biggest company flees, bottler CCH to Switzerland

Source: Reuters

ATHENS (Reuters) - Greece's biggest company, Coca Cola Hellenic, is leaving the country, the drinks bottler said on Thursday as its move to Switzerland and a London listing for its shares dealt a blow to the crippled Greek economy.

The immediate material impact on Greece is limited - its Greek plants stay open and CCH said the small portion of it activity that the world's second-ranked Coke bottler has in Greece will be unaffected. But analysts quickly saw it as bad news for a nation struggling to compete inside the euro zone.

One analyst said CCH, which rose to the top of corporate rankings as the values of Greek banks collapsed, was out to rid its share price of such risks associated with Greece; the country is mired in recession and facing mass discontent as its leaders slash budgets to meet international creditors' terms for loans intended to keep Athens inside Europe's single currency.

"This is a healthy company that does not want to suffer from Greece's high country risk," said the analyst, who spoke on condition of anonymity.

Read more: http://news.yahoo.com/greeces-biggest-company-flees-bottler-cch-switzerland-171320730--sector.html

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If talk of Greece leaving the Euro grows, you will see more of this. Stability is what business craves and it is in short supply in Greece.