Coca Cola Leaves Greece
It’s not the real thing anymore. The country of Greece, facing continuing problems learned today that Coca Cola Hellenic will leaving them. This news is particularly devastating as unemployment in Greece jumped over 25% this week.
Coca Cola Hellenic announced it will be shifting its trade listings from Athens to London and moving headquarters to Switzerland. As the largest company in Greece this loss is a further blow to the sinking Greek economy.
From the Economic Times: CCH’s announcement coincided with data that showed Greek unemployment climbing for a 35th consecutive month in July to 25.1 percent from a revised 24.8 percent in June. The jobless rate has more than tripled since the country’s now five-year-old recession began.
Fifty-four percent of Greeks under 24 continue to be jobless fueling more riots as the country struggles to regain its footing.