Greece Has Already Cost Investors $897 Billion This Year
Artwork titled "Death of euros," painted by French street artist Goin, on a wall in Athens on May 28, 2015.
Photographer: Kostas Tsironis/BloombergThis article is for subscribers only.
How much has the Greece saga cost European equity investors? Try $897 billion, more than the value of benchmark indexes in Spain, Portugal and Ireland, combined.
What had been a record year is in danger of turning sour, with the Stoxx Europe 600 Index going from its biggest quarterly gain since 2009 to the worst month, June, in two years. A third of this year’s rally has been lost as the gauge dropped 7.2 percent from its all-time high on April 15.