Greece and the Greek financial crisis have persistently made headlines in world business news for year.
Based on what we know about the country’s current finances and its existing debt repayment schedule, Greece very much seems to be on the brink of default.
For the most part, however, Wall Street analysts aren’t too worried that any of this will escalate into a problem that will have a significant impact on the rest of the financial markets. Indeed, Wall Streeters are complaining about fatigue of all things Greek, or “Gretigue.”
We’re getting similar complacency about Greece from corporate America.
FactSet’s John Butters examined the earnings announcements and conference call transcripts of S&P 500 companies over the past month to see what they had to say about Greece.
“FactSet searched for the names of 50 different countries outside of the U.S. (based on highest dollar- level GDP in most recent year available) in the transcripts of the 21 earnings conference calls (for both Q1 2015 and Q2 2015) conducted by S&P 500 companies since June 1,” he explained.
“Greece has not been mentioned in any of the earnings calls conducted by S&P 500 companies during the month of June. Over this same time frame, 26 of the 50 countries utilised in the transcript search were mentioned during at least one earnings conference call. Australia was mentioned by the highest number of S&P 500 companies (8), followed by China (7), Japan (6), India (6), and Canada (6).”
So there you have it. Corporate America doesn’t carry about Greece.