contents… · interview 24 tech talk exclusive interview with cisco’s michael ganser, senior vp...

4 bf November-December 2016

NEWS AND VIEWS

03 Publisher’s note

06 Editor’s log

09 In Pictures

13 News-in-brief

COMMENTS

10 Greece at a new crossroads

Antonis D. Papagiannidis looks at the morale-boosting eff ects of the Obama visit and the unknown unknowns of the Trump era

58 The end

Economist and author Nick Papandreou looks at the work of the Clinton Global Initiative and why it shut itself down

ECONOMY AND BONDS

14 Recession bottoming out, but strength

of the recovery remains uncertain

The recession-battered Greek economy fi nally appears to be turning the corner, but doubts linger as to how strong the long-awaited recovery will be

16 Greece eyes QE via debt talks,

second review

The Greek government has set its sights on the ECB’s quantitative easing pro-gramme in a bid to drive down borrowing costs, regain access to international bond markets and help the economy recover

22 The Greek Crisis in the Context

of the North-South Divide

Former Finance Minister Nicos Christodou-lakis, who was instrumental in Greece join-ing the euro in 2001, guides us through the travails of the euro area and the precarious situation of the European South

By Nicos Christodoulakis

FEATURES AND ANALYSIS

BANKING

18 Banks scramble to meet NPL targets

as time goes by

Greek banks focus on the challenge of reducing their non-performing loans, but delays in certain top management appointments hamper progress

20 Coping with the banking crisis

Banks’ Resilience and Economic Downturns: Is the New European Crisis-Management Framework Enough?

By Eleni Louri-Dendrinou

INTERVIEW

24 Tech talk

Exclusive Interview with Cisco’s Michael Ganser, Senior VP Central Europe, and Cisco Greece General Manager Antonis Tsiboukis

By Vanessa Alexakis

DIASPORA

30 Contradictory cultural traditions

in Greek diaspora

Concluding remarks of George Prevelakis to the conference of the Centre for Greek Diaspora Studies at the Royal Holloway, University of London: “Greeks and Cypriots in the United Kingdom, 1815-2015”

SHIPPING

32 UGS 100th anniversary:

A celebration of Greek shipping

The Union of Greek Shipowners turned 100 in style and reminded the world why Greek shipping remains a global leader

By David Glass

contentsPublisher

Alexandra C. Vovolini

Founding Editor

Robert Mc Donald

Editor-in-chief

Philip Pangalos

Contributors

Vanessa Alexakis, Eugenia Anastassiou

(eu.there@hotmail.co.uk), David Glass, Kerin Hope,

Stelios Konteas (konteas.stelios@gmail.com),

Dimitris Kontogiannis, Apostolos Lakassas,

Nick Papandreou (tulayev@gmail.com),

Antonis D. Papagiannidis (adp@economia.gr),

Nikos Roussanoglou (nikosroussanoglou@gmail.com)

Copy Editor

Georgia Micha

Art & Design

Nomiki Bibliothiki

Photographs

Athens News Agency - Macedonian Press

Agency, ACE Images, Vovolini Archive

Printing

ALFAPACK SA

Distribution

At kiosks through

EUROPE-PRESS DISTRIBUTION AGENCY S.A.

Annual subscription

5 Issues per year: 35€

Students sub: 25€

Overseas sub: 45€

e- sub: 15€

Students e-sub: 10€

Each copy: 5€

e-magazine: 3,5€

Back issues of Business File

are available at sales@economia.gr

Kerkyra Publications S.A.

Communication & Marketing Manager

Thanassis Vozikis

vozikis@economia.gr

6-8, Vlahava Street-105 51, Athens-Greece

Tel.: +30-210-3314714, Fax: +30-210-325283

www.economia.gr

www.facebook.com/economiagroup

www.youtube.com/economiagr

Documentation - Publications Coordinator

Efi Andrikopoulou

tekmiriosi@economia.gr

Secretariat

info@economia.gr

Accounting Department

logistirio@economia.gr

Oikonomotehniki Ependitiki Ltd

Εκδόσεις ΚΕΡΚΥΡΑ Α.Ε.

Βλαχάβα 6-8, 105 51 Αθήνα

Tηλ.: 210 3314714, Fax: 210 3252283

www.economia.gr

Εκδότρια - Διευθύντρια

Αλεξάνδρα Κ. Βοβολίνη

Sales

sales@economia.gr

www.economia.gr

τηλ.: 210 3314714

vassilisr@nb.org

www.nb.org

τηλ.: 210 3678989

B O O K S T O R E

November-December 2016 bf 5

34 2017: Another challenging year

By Nikos Roussanoglou

36 Dry Bulk Market Situation and Outlook

Commercial Director of Lavinia Corporation and Laskaridis Shipping Odysseas Laskaridis presented the perspectives of the dry bulk market for the year ahead at Beijing International Conference “Stand together: Facing the headwinds of change”, organised by Exim Bank of China

38 Greener Shipping Summit 2016

Ship intelligence will be a driving force that will determine the future of the industry, the type of ships at sea and the competencies required of tomorrow’s seafarers

By David Glass

TOURISM

42 Rethinking Greece’s tourism strategy

Greece sets a record for arrivals in 2016 around 26 million but should focus on revenues as travel receipts showed decline

PRIVATISATIONS

44 New “super-fund” aims to rescue privatisations programme

The Hellenic Corporation of Assets and Participations will take over responsibility early in 2017 for implementing an expanded Greek privatisation programme

By Kerin Hope

REAL ESTATE

46 Trying to put Greek property on the global

real estate investment map

Greece is attempting a marketing “relaunch” of the Golden Visa programme to grant fi ve-year residence visas to non-EU residents who invest in Greek property

By Nikos Roussanoglou

ENTREPRENEURSHIP

48 Turning brain drain to brain gain

ReLoad Greece Conference 2016 on the Enterprising Diaspora

By Eugenia Anastasiou

Visit our site www.economia.gr/en

Follow us:

www.facebook.com/businessfile

Is it Monday?

Keep Calmand read Antonis D. Papagiannidis’ post at

www.economia.gr/en The November-December issue of Business File went to press on December 1, 2016. Our next issue of Business File will be out at the end of January, 2017

4848484848848484848484888488884448488242424242 224224444422222222222222222222222