ATHEX - Athens Stock Exchange

The Athens Exchange, also known as the Athens Stock Exchange or ATHEX, is operated and managed by a council that consists of the Athens Exchange vice president and chairman, and one representative from each of the following: Bank of Greece, Athens Chamber of Commerce and Industry, listed companies, investment funds and brokers’ corporations. Becoming a member of the Athens Exchange, requires the purchase of equities to the minimum amount of 600 000 euros. It trades in bonds and stocks and trades on a computerized system. Being Greece’s biggest exchange, the Athens Stock Exchange regulates trading from the options, indices and stock futures that are reflected by the system. It offers approximately twenty indices, such as the FTSE/ASE 80 Small Cap Index and FTSE/ASE 20 Index, both being international indices.

Most of Greece’s industrial businesses are located either in or in the surrounding areas of Athens, so the Athens Stock Exchange is conveniently located in the business hub of Greece. Manufacturers of soap, chemicals, cement, pottery, alcohol and textiles, to name a few, are located here. Industries such as publishing, machinery and transportation are also thriving in the Athens region. A large portion of the citizens in Athens, are employed in service areas such as education, banking, health care and administration. Athens received a major economic boost through the 2004 Olympics, which created a larger tourist industry and transportation systems were upgraded. The growing tourist industry has also led to the restoration of monuments and museums, and vast infrastructure improvements. The heart of the national transport network, for Greece, is in Athens. To assist Athens in relieving their congested roads, the European Union provided Athens with development aid that led to construction of the metro, tram systems and the construction of a new airport. Archaeological excavations and discoveries caused the improvements to the transportation systems to slow.

Products that are exported from Greece include seafood, electrical appliances, glassware items, industrial accessories, olive oils, tobacco, building materials, furniture and musical instruments. Greece frequently imports coffee, machinery, fuels, transport equipment, cosmetics and food products. Investments into the country has also improved the economy, but budget cuts to government expenditure, the restructuring of pension and labor systems, and the downsizing of the public sector, are being looked at, to improve the economy.

 

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