The world’s markets may believe that the worst of the financial crisis in Europe is over after three turbulent years, but those people who control the purse strings of the world’s businesses are not breathing any easier.
An annual survey of finance directors from global business consultancy BDO finds that the crisis over too much government debt in Europe remains one of their key concerns — so much so that Greece is considered a riskier place to invest and set up business in than war-torn Syria.
Only Iran and Iraq are considered more risky than Greece, which also struggles to convince its international creditors that it deserves bailout loans to avoid bankruptcy and a possible euro exit.
“CFOs are becoming increasingly wary of Southern Europe, parts of which they now see as risky as the politically unstable countries of the Middle East,” said BDO chief executive Martin Van Roekel.
Greece isn’t the only country in the 17-country group that uses the euro in the survey’s top 10 riskiest countries to invest in. Spain, which even as the eurozone’s No. 4 economy with a long-standing relationship with Latin America, stands at No. 7.
(source: AP, BDO)
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
