Greece 2.0, opportunity and challenge

The “Greece 2.0” program constitutes an opportunity as well as a challenge for Greece, the chairman and chief executive of the Mytilineos group, Evangelos Mytilineos, and Alpha Bank CEO Vassilis Psaltis stressed at the E-Kyklos think tank’s “Greece After” conference that concluded on Tuesday.

Mytilineos argued that the credit sector is the domain with the know-how for managing the huge resources that will arrive: “If you ask whether the Greek administration can handle the inflow of investment funds of 100 billion euros in four or five years, the answer is ‘Not the way it is now.’ However, the government has been given a great chance to proceed with reforms and achieve them,” he said.

“Large companies are preparing and able to absorb resources; I cannot say the same thing about small and medium-sized enterprises,” added Mytilineos.

Psaltis cited a number of challenges ahead, including the absorption of resources, the continuation of reforms and the maintenance of fiscal discipline.

He also praised the government’s orientation toward the rationalization of the tax framework and the introduction of business-friendly initiatives.