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Greek Business File2020-12-23T10:24:13+03:00

Greek Business File

Christos Staikouras: The private sector will have key role in the Recovery and Resilience Plan- The 4 pillars of investments

The draft of the Greek National Recovery and Resilience Plan (RRP) has been submitted to the European Commission. It is a plan based on two parallel lines of action: investment and reform. The ultimate goal is to cover the investment, output and employment gap in Greece. To this end the mobilization of private sector resources is deemed essential. Ιn his speech at the Economist event “ EU Recovery and resilience fund for Greece: European Green Deal – Digital transformation – [...]

December 10th, 2020|Greek Business File|

Greek companies: The higher the wages, the more the exports

In the debt crisis era, labor cost in Greece was attacked as one of the reasons of the country's low competitiveness. The loss of international competitiveness of the Greek economy was associated with a rapid increase in labor costs in the period up to 2009. Under the three Economic Adjustment Programs, Greece cut drastically wages (both in the public and private sector). Still, the export performance of the Greek companies did not meet expectations. A recent study entitled: “Openness, Expοrts [...]

December 9th, 2020|Greek Business File|

Made for Gods and heroes: Greek marble conquers the world

By Symela Touchtidou Greece is the fourth largest exporter of marble in the world. The Greek marble extraction and production sector is a rare example of success story during the decade long financial crisis of Greece: faced with the near elimination of internal construction, the sector was forced to redefine its business model and its target markets. And it succeeded. It managed to increase exports, keep jobs and wages stable during the crisis era. Nowadays, its numbers are impressive: 76 [...]

December 8th, 2020|Greek Business File|

Greece: 5G is coming to town!

By Symela Touchtidou, @stouchtidou  On October 30, Greece’s telecoms regulator, Hellenic Telecommunications and Post Commission (EETT), launched a tender for frequencies in the 700 MHz, 2 GHz, 3400-3800 MHz and 26 GHz bands. These are the frequencies allocated for the country’s next generation telecommunication networks, the 5G networks. In Trikala, the pilot program ran just for 3 hours during the 2019 Smart Cities Conference Two elements differentiate the process in Greece from other European countries: the low price [...]

December 4th, 2020|Greek Business File|

LARCO: The ” for-sale” sign for the nickel giant is up. Can it be saved?

by Symela Touchtidou The Hellenic Republic Asset Development Fund (HRADF) has published the invitation for the expression of interest for the assets of the "General Mining and Metallurgical Société Anonyme, LARCO". Among them the Larynos Mining Complex. LARCO is one of the five largest ferronickel producers in the world. In late November, the Special Administrator of LARCO has also published invitation for expression of interest for the company's assets. The two parallel but independent tenders are called within the framework [...]

December 1st, 2020|Greek Business File|

ECB to Greek banks: Clean up your balance sheets- “This is not the time to wait and see says Chair of the Supervisory Board, A. Enria

Greek banks have made quite a good progress in cleaning up their balance sheets from non-performing loans (NPLs), but more needs to be done. “This is not the time to wait and see“ is the message coming from Frankfurt, via Andrea Enria’s interview to the Greek national TV, ERT. The Chair of the Supervisory Board of the ECB acknowledges that there has been a decrease in non-performing loans in Greece of around €25 billion, from December 2018 to the third [...]

November 30th, 2020|Greek Business File|

Lamda Development -TEMES: State of the art hotels and residencies on the Athens Riviera

Lamda Development S.A. and TEMES S.A. announced the signing of their strategic agreement for the joint development of two state of the art, luxury hotels and residential complexes on the costal front of the Hellinikon project, during the first five year phase of the project. The partnership will bring to life "a commonly shared vision to further establish Athens as a top world-class tourism destination and place the Athens Riviera on the world tourism map." The strategic agreement envisages, the [...]

November 28th, 2020|Greek Business File|

Trying to reverse the brain drain: What would it take for Greeks to return

The Greek government is determined to reverse the brain drain. The country lost about 500.000 of its most highly skilled workers during the debt crisis of 2010-2018. Prime Minister of Greece, Kyriakos Mitsotakis, says that GDP growth and new jobs need highly skilled workforce to take the country to the next industrial revolution. Next week the Greek government will introduce a new law that will cut by 50% income tax : for employees (Greek or foreign) that move their tax [...]

November 28th, 2020|Greek Business File|
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