The first “Investor Forum Athens” is an important initiative by Eurobank EFG aiming at increasing the awareness of top institutional investors on the provisions and the relevant investment opportunities created by Greece’s program to overcome the current economic crisis.
Thirteen major international investment houses from Europe, the US and Asia were represented at a high level, showing their strong interest on the developments in Greece. Participating houses’ assets under management (AUM) exceed USD 1.5 trillion.
During the Forum, several top Greek public figures, from politics, banking and the business world, reviewed the framework as well as initiatives regarding the management of the country’s public debt and the effort to achieve a primary surplus. Specific measures and reforms to increase competitiveness were also addressed, along with the prospects of the economy and of Greece’s banking system. An analysis of the country’s strategy to overcome the crisis and return to positive growth rates was given particular focus.
On behalf of the Greek government spoke the Finance Minister Mr. Evangelos Venizelos, the Minister for the Environment, Energy and Climate Change Mr. George Papakonstantinou and Deputy Finance Minister Mr. Philippos Sachinidis. The representatives of the investment houses were also received by the President of the New Democracy main opposition party Mr. Antonis Samaras.
Eurobank EFG Group CEO Mr. Nikolaos Nanopoulos focused on the challenges and the perspectives of the Greek banking system, following initial remarks by Group deputy CEO Mr. Nikolaos Karamouzis on the full spectre of Eurobank’s initiatives to establish a credible outlet of information for the international community on Greece’s economy and banking system.
SEV Hellenic Federation of Enterprises Chairman Mr Dimitris Daskalopoulos and the Association of Greek Tourism Enterprises (SETE) President Dr. Andreas A. Andreadis spoke on behalf of the Greek businesses.
The Director General of the Foundation for Economic & Industrial Research (IOBE) Prof. Yannis Stournaras and the Chief Economist of Eurobank EFG Group Prof. Gikas Hardouvelis presented the macro economic outlook from both the Greek and the Eurozone perspectives.
Sessions were coordinated by Forum organiser Mr. Fokion Karavias, General Manager, Global Markets, Institutional Asset Management & Services on behalf of Eurobank EFG Group.
The representatives of the investment houses had the opportunity to listen to detailed presentations on the challenges facing the Greek economy as well as its and perspectives and growth potential, on the basis of the provisions and the terms of the Medium-Term Program for Fiscal Consolidation. On their part, they expressed particular interest in the frame and the time-schedule of the fiscal frame, in the privatisation program and issues pertaining to the Greek banking system.
Moreover, there was great focus on the policies to overcome the structural problem of the competitiveness of the Greek economy. The importance of a national strategy to shape the necessary conditions to attract foreign investment and the creation of positive growth perspectives for the Greek economy was also stressed.
The Investor Forum Athens is part of a broader effort that Eurobank EFG Group has initiated since the summer of 2009, to provide in-depth information to the international investment community, to re-open capital markets and to restart the Greek economy, leading out of the crisis and back to a track of sustainable growth.