World Economy

Greek Crisis Hit Multinationals

Greek Crisis Hit MultinationalsGreek Crisis Hit Multinationals

Volatility caused by the Greek crisis has knocked 2% off the value of the world’s top 100 companies, according to Ernst and Young, DW reported. The UK audit firm’s new study says German firms have suffered particularly. The stock market value of the top 100 global firms shrank by a total of $300 billion in the past two weeks, the German arm of Ernst and Young announced on Friday in Stuttgart. That meant the total value of the top 100 dropped from $16.6 to $16.3 trillion. The crisis seems to have hit European firms the hardest, with the five German companies in the top 100 losing 4% of their market capitalization.