Wednesday, March 29, 2023
Friday, 09 December 2022 21:24

The Greek minister of finance H.E. Christos Staikouras keynote speaker at the 24th Annual Capital Link Invest in Greece Forum

Capital Link’s 24th Annual Invest in Greece Forum, entitled “Sustaining Growth & Investment Momentum”, took place with great success and an impressive participation on Friday, December 9, 2022 as an in-person event at the Metropolitan Club in New York, in co-operation with the New York Stock Exchange, the Athens Stock Exchange and major Global Investment Banks and Organizations. Τhe Forum was organized with the support of the General Secretariat for Greeks Abroad and Public Diplomacy – Ministry of Foreign Affairs, under the Auspices of the Consulate General of Greece in New York. JP MORGAN & Tsakos Energy Navigation (TEN) Ltd. were Lead Sponsors of the Forum. The Forum, which also receives the strong support of the Greek business and financial community, has become an international summit about Greece through the years. With a 24-year track record of success, the Forum has been engaged in a systematic effort to highlight Greece’s profile to a global business and investment audience. The event gathered top level executives from the business world, bringing together a number of international investors, entrepreneurs, banking executives, technocrats and Government officials from Greece, Europe and The United States. The Forum’s agenda featured top level speakers who addressed a global audience discussing topics of major importance.

The Prime Minister of Greece, H.E. Kyriakos Mitsotakis, opened the Forum (via webcast) and delivered the Greek Government’s message to international investors, titled “Sustaining Growth & Investment Momentum”.

H.E. Christos Staikouras, Minister of Finance, Keynote Speaker of the Conference, presented Greek Government’s economic strategy, and his speech was titled “Government Economic Policy & Objectives“.

The Minister participated at the official luncheon which was hosted in the context of the Forum – Introductory Speeches were made by: Mr. John Tuttle, Vice Chairman – NYSE ; President NYSE Institute, Intercontinental Exchange Inc. (NYSE: ICE), Mr. Yianos Kontopoulos, CEO - ATHEX Group, Dr. Nikolas P. Tsakos, Founder, President & CEO - TEN Ltd., and Mr. Takis Georgakopoulos, Global Head of Payments, Managing Director - JP Morgan.
Keynote Speakers were: H.E. Adonis Georgiadis, Minister of Development & Investments of Greece, and Mr. Nikos Stathopoulos - Chairman of Europe - BC Partners.

One-On-One Meetings: Like every year, the Conference provided foreign investors with the opportunity to network through a variety of "one-to-one meetings" with Institutional Investors representing large foreign funds with investment interest in Greece, with listed and non-listed companies, as well as with members of the delegation of the Greek Government. In cooperation with the investment banks that support the Forum, group sessions were organized for H.E. Christos Staikouras, Minister of Finance, accompanied by Mr. Michael Arghyrou, Chairman of Council of Economic Advisοrs.

Media Meetings: H.E. Christos Staikouras, Minister of Finance, gave interview to Bloomberg TV, and to the Greek American and other international media participating and covering the Forum.

H.E. Christos Staikouras, rang the Closing Bell at the New York Stock Exchange

Within the context of the “24th Annual Capital Link Invest in Greece Forum”, the New York Stock Exchange in cooperation with Capital Link organized, a special ceremony, in honor of Greece, titled «GREEK AMERICAN ISSUER DAY at NYSE».

Dr. Nikolas P. Tsakos, Founder, President & CEO, TEN Ltd. (NYSE: TNP), H.E. Christos Staikouras, Minister of Finance, and Mr. Yianos Kontopoulos, CEO of the Athens Exchange, rang the “Closing Bell”, closing the trading session on Thursday, December 8, 2022, of the NYSE-New York Stock Exchange, accompanied by: the Vice Chairman of NYSE & President of NYSE Institute, Intercontinental Exchange Inc. (NYSE: ICE), Mr. John Tuttle, the Alternate Minister of Finance, H.E. Theodore Skylakakis, the Deputy Minister of Development & Investments, H.E. Yannis Tsakiris, the Secretary General, Ministry of Tourism, Mrs. Olympia Anastasopoulou, the Chair of the Hellenic Capital Markets Commission, Dr. Vassiliki Lazarakou, the Consul General of Greece in New York, Mr. Dino Konstantinou, and representatives of NYSE listed companies : Ms. Marina Hadjipateras – Dorian LPG (NYSE: LPG), Mr. Steve Demetriou – CEO, Jacobs (NYSE: J) as well as Ms. Olga Bornozi, Managing Director – Capital Link, and Mr. Nicolas Bornozis, President - Capital Link.

The Greek Minister of Finance, H.E. Christos Staikouras, Keynote Speaker of the Forum, presented his speech with the title: «GOVERNMENT ECONOMIC POLICY & OBJECTIVES»

H.E. Christos Staikouras, in his speech he stated:

«H.E. Christos Staikouras, Minister of Finance, stated in his speech: “In these turbulent times of ongoing high uncertainty and instability, reinforcing the resilience and competitiveness of our economies is a major challenge. Governments are called upon to work together and develop timely, effective and farsighted policies. In the case of Greece, during the last three years, the Government has been planning and implementing policies reflecting the aforementioned principles and resulting in important achievements, as confirmed by all ‘stakeholders’:

1st. We continue to outperform growth expectations.

2nd. GDP composition positively changes.

3rd. Labour market developments have been positive.

4th. The banking sector has made, and continuous to make, marked progress.

5th. Public finances have resumed their improving trajectory.

6th. Public debt is on record-level reduction path.

7th. Country’s credibility is strengthened.

Overall, the Greek economy, despite the challenging circumstances, has achieved strong recovery and sustainable growth, has reduced unemployment, has improved public finances and has implemented specific, wide-ranging reform commitments.

However, we still face elevated uncertainty and upside risks, mainly related to energy prices and inflation.

Thus, it is of outmost importance to continue implementing a growth-friendly, fiscally prudent and reform-oriented economic strategy, based on 7 pillars:

1st pillar: Implementing targeted measures in order to tackle the economic effects of multi-level crises, especially for the most vulnerable part of the society.

2nd pillar: Following a credible and prudent fiscal policy.

This, along with optimal utilization of available resources, is the “central direction” in our roadmap for achieving investment grade status.

3rd pillar: Enhancing liquidity to finance investment in the real economy, through the deployment of the Public Investment Budget and the implementation of the Recovery and Resilience Plan.

4th pillar: Implementing ambitious structural reforms, including the primary health care reform, the codification of the labour legislation, ongoing reforms in the financial sector, as well as the implementation of the Asset Development Plan.

5th pillar: Implementing a smart debt issuing strategy, based on low average annual gross financing needs and proactive liability management, which allows maintaining substantial cash buffers.

6th pillar: Implementing measures to create new jobs and increase the disposable income of citizens, along with exercising social policy for the most vulnerable citizens.

7th pillar: Strengthening national defense, with increased spending on weapons systems purchases.

Evidently, despite difficulties and international volatility, Greece has turned the page, on to a new chapter.

However, we still face lingering uncertainty, significant challenges and downside risks related to energy prices and inflation. We are fully aware of the difficulties that arise, but we also have the ability, experience and knowledge to continue working hard and methodically, preserving all that we have achieved and capitalising on our progress, in order to further strengthen the Greek economy and to improve the country’s prospects.»



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