Companies To Watch With Greek Elections In Focus

January will be a busy month in Greece, where snap elections are set to take place on January 29. The small eurozone nation has had its share of financial issues throughout the bloc's crisis, but a new bailout program and structural reforms helped get the economy back on track and improved investor confidence. However, this month's elections could undo all of that progress and spell disaster for publicly traded companies based in Greece. When current Prime Minister Antonis Samaras' candidate for head of state failed to gain the parliamentary votes needed in order to move the party forward, many began to worry that the January elections could put the leftist Syriza party in power. The party, which has been leading in the polls, has vowed to abandon the nation's bailout program early, which some say could lead to the country's eventual exit from the eurozone. Political instability to that degree is likely to have a negative impact on the nation's already struggling companies. Shipping companies Dryships DRYS and Costamare Inc. CMRE are likely to feel the impact of January's upcoming vote as the already declining shipping industry has taken a toll on their balance sheets. While Costamare made it through Greece's financial troubles relatively unscathed, Dryships was recently forced to restructure some of its debt in order to cover a $700 million funding gap, leaving many to worry how the company will finance its operations in the coming year. Still, perhaps the biggest loser in Greece's political trouble is the National Bank of Greece NBG, as uncertainty has caused investors to loose confidence in the nation's financial recovery. National Bank of Greece shares have lost more than 65 percent over the past year, falling nearly 10 percent when the snap elections were announced.