EFG Eurobank held a conference on “Sources of Growth: Can
The speakers from Ireland, invited by EFG Eurobank, included Mr. Pat McArdle, Chief Economist, Ulster Bank, (a member of the Royal Bank of Scotland Group) and Mr. Dan Flinter, Chairman of the Governing Authority of the National University of Ireland Maynooth and former CEO of “Enterprise Ireland”, whose practical expertise is indeed valuable as he played a central role in implementing the Irish miracle strategy.
The Greek reality was discussed by Professors Mrs. Helen Louri, Director of the Prime Minister’s Economic Office, and Mr. Heracles Polemarchakis, Economic Advisor to the Chairman of PASOK.
The Development Minister, Mr. Dimitris Sioufas, opened the Conference congratulating EFG Eurobank for its initiative in organising such events, which, he said, help highlight economic concerns. He then referred to the government’s economic policy, stressing that “such policy allows us to move closer to
EFG Eurobank’s CEO, Mr. Nicholas Nanopoulos, in his address, emphasised that “present conditions demand an extrovert and more productive economic model, which promotes private initiative and entrepreneurship”.
The Bank’s Deputy Managing Director, Nikolaos Karamouzis, indicated that “there is no “ magic recipe” that can be used in any economy and
The Irish speakers pointed out that although the efforts for the Irish economy’s recovery had begun relatively early (since the ‘50s), with low taxation on exports and major investments in education,
Instead of simply welcoming foreign investments,
Mrs. H. Louri noted that the
Mr. H. Polemarchakis described the Irish miracle not as a productivity miracle but mainly as a significant surge in employment in the 1990’s and focused on education’s contribution to economic growth.
Summarizing the main conclusions of the Conference, which was attended by approximately 300 guests from economic and political circles, Professor Gikas Hardouvelis, EFG Eurobank’s Economic Adviser, observed that: firstly, the state should think as an entrepreneur but not substitute for entrepreneurs; secondly that social consensus brings multiple benefits and should be sought; thirdly, that policies driven by a common philosophy and perspective are needed; fourthly, that education is, in the long run, the most important growth factor, and fifthly, that it is imperative to determine which are the economy’s priority sectors in order to invest in those and produce products and services with high domestic added value.-
- Polemarchakis Ireland 10-4-05.ppt
- Flinter - The Transformation of the Irish Economy.doc
- Flinter - The Transformation of the Irish Economy.ppt
- Louri - Lisbon eurobank2.ppt
- McArdle - Athens - Ireland Presentation.doc
- McArdle - Paper 1 Oct.ppt