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Greek Business File

Holiday homes – the new “hot” trend in the post pandemic era

by Symela Touchtidou, @stouchtidou Undoubtedly, tourism is one of the sectors hardest hit by the global pandemic crisis. There is one sector, though, that has showed remarkable resilience to the pandemic crisis and is expected to boom when restrictions are lifted. The holiday home market. Why? As many tourism experts note, traveler preferences and behaviors have shifted toward the familiar, predictable, and trusted. “Throughout 2020, the interest of potential buyers for holiday homes remained unchanged,” John Revithis, CEO of the Real [...]

March 29th, 2021|Greek Business File|

Four non systemic opposite to the four systemic: The other banks of Greece

As Greek systemic banks remain trapped in overwhelming non performing loan levels, non-systemic banks are rushing to make up lost ground promising more generous lending for Greek businesses. In 2020, Greek financial institutions granted over €20 billion in loans to households and businesses – a record lending level in the country for the last decade. A considerable part of this lending was facilitated though pandemic related national guarantee schemes, as well as bank-specific programs designed specifically for supporting the vulnerable borrowers [...]

March 17th, 2021|Greek Business File|

The retail market in Greece in the aftermath of COVID-19: Winners and losers

by Dika Agapitidou, Director, JLL – Athens Economics ltd* It is common to see savings surge and consumption decline in times of acute uncertainty; therefore, it comes as no surprise that the pandemic outbreak, swiftly followed by restrictions on circulation and market activity, undermined the performance of both retail and food & beverage. In turn, these developments impacted the buildings accommodating such uses, both qualitatively and quantitatively, as discussed further down. Indicatively: The retail volume index slipped by 2.8% during [...]

March 16th, 2021|Greek Business File|

Greek Health System: In need of extreme makeover- Plans, pioneers and challenges

by Symela Touchtidou @stouchtidou One could call it a Herculean labor. Ιt would not be an exaggeration. Among the priorities set in the National Recovery and Resilience Plan, component 3.3 is titled “Improve resilience, accessibility and sustainability of healthcare”. Reforms in selected areas of the healthcare system will seek to provide “equal access to high quality health services, increased efficiency in services’ provision, digital transformation of health services and financial sustainability of the healthcare system”. The “digital transformation of health [...]

March 11th, 2021|Greek Business File|

George Zavvos: “Hercules II” is coming- The banking system as part of the solution, not part of the problem

In the first year of its operation, the "Hercules" scheme, with the participation of all 4 systemic banks of Greece, reduced NPLs by 32 billion euros, ie by about 40% of the total. Within 13 months, “Hercules” achieved what had not been done in the previous five years. These data were presented by George Zavvos, deputy Minister of Finance, responsible for the Financial System, during his speech at Fin Forum 2021. In an article written for Greek Business File, G. [...]

March 5th, 2021|Greek Business File|

Russia- Greece: “Unorthodox” partners

A report from the Centre for the Study of Democracy, a Sofia-based thinktank, suggests that Moscow’s “malign” influence on strategic decision-making in southeast Europe remains strong, even though Russian economic power has weakened in recent years with the gradual opening up of the region’s energy markets. Russia continues to disrupt economic policymaking and promote divisive agendas across the southern Balkans regardless of countries’ commitments to deepening relations with the EU. The report argues that in Greece, Russian companies, both state-owned [...]

February 26th, 2021|Greek Business File|

Yannis Stournaras: “The pandemic works as a catalyst”

Yannis Stournaras, Governor of Bank of Greece, argues that the pandemic shock has incurred significant costs but has also had benefits for the Greek economy. At the EU level, he argues the Recovery and Resilience Facility is the first, albeit small, step towards a more federal fiscal policy in Europe and asks for further initiatives towards political integration for the EU not to stay behind. In an exclusive interview to Antonis Papagiannidis and Alexandra Vovolini, the Governor of Bank of [...]

February 20th, 2021|Greek Business File|

The Recovery and Resilience Plan of Greece: What is it about

Investment and reform are the main ingredients of the National Recovery and Resilience Plan (NRRP) of Greece. The country is entitled to €32 billion in grants and cheap loans. Investments to cover the investment, output and employment gap in Greece. Reforms to make sure that this time the money flowing in the country will be directed to fruitful projects and will not be wasted on reproducing a productive model that has been proven inadequate, to say the least. Following the [...]

February 15th, 2021|Greek Business File|
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