Greek firms in Turkey wary of political developments

While no problems have been reported so far in the interbank transactions of Greek companies active in turbulent Turkey, entrepreneurs speaking to Kathimerini have said that they are keeping a close eye on the protest rallies and riots that have rocked the neighboring nation for over a week.

They also said that they have issued clear guidelines to the directors of their subsidiaries across the Aegean regarding the measures they should adopt if the operation of their companies faces any hindrances.

According to data from the Hellenic-Turkish Chamber, more than 2,000 Greek enterprises are commercially active in Turkey, 20 of which are listed, topped by National Bank subsidiary Finansbank. Other Greek firms in Turkey include Eurobank, Alpha Bank, Intralot, Crete Plastics, Spirou Agricultural, Nirefs, Selonda Aquacultures S&B Industrial Minerals, Sarantis, Eurodrip etc.

Company officials told Kathimerini that the first signs of a Turkish economic slowdown emerged in early 2013, despite the fact that construction activity has reached its peak in the last couple of years, securing gains for a host of companies that feed on this prosperous sector.