GR US

Timely 10th Annual Capital Link CSR Forum on Economy & Society: The Next Day

The National Herald

(Photo: Courtesy of Capital Link)

NEW YORK – The next day for the economy and society was the theme of the 10th Annual Capital Link CSR Forum, which was held digitally on June 23 with the participation of both speakers and members from the Greek Diaspora as the company is based in New York. The Conference was organized under the auspices of the Attica Region, the City of Athens, the Municipality of Piraeus, the Greek National Tourism Organization – GNTO and with the support of the Consulate General of Greece in New York.

The conference was hosted for 10th consecutive year by Capital Link. The timely theme "Economy and Society: The next day" gave the opportunity to 40 distinguished speakers, representatives of the Greek government, local government, entrepreneurs, investors, bankers, and expatriates to express their views on the next day after the COVID-19 pandemic and to suggest measures for restoring the economy and society, the impact on each sector as well as the new market landscape, which has emerged with the implementation of restrictive and precautionary measures.

Consul General of Greece in New York Konstantinos Koutras honored the Forum with the Consulate’s support and said, “We experience an unprecedented situation as we are faced with an invisible enemy. But, in this historic moment we are all fighting on the same side. For some, de-globalization, trade barriers and movement restrictions are the real antidote to the pandemic. However, in the eye of the storm we will do better if we act together.

“I would like to congratulate Capital Link, for its prompt digital transformation and for promoting interaction among specialists and decision makers. The public health crisis has not spurred new, unforeseen developments; it has just accelerated the emergence of the next world political and economic order. We, in Greece, are proud for the successful management of the pandemic, but we have to remain vigilant and work in a concerted manner to reform and restructure our economy to the benefit of all.”

Capital Link President Nicolas Bornozis welcomed the attendees to the 10th Annual Capital Link CSR Forum and said, “The resumption of the Economy and Society is a challenge that all governments around the world have to face, adapting to the new reality created by the pandemic.

“The Forum examines how key areas will face the new market landscape given the fact that the economy was shut down for months; the restrictive measures that were taken, and the shift to the adoption of digital solutions. The question is how the country will manage to orchestrate as quickly as possible a dynamic return to growth. The return to normalcy is a matter of time, and the current situation, no matter how painful, allows for a fresh start.”

At the Forum, Adonis Georgiadis, Minister of Development & Investments said, “The Mitsotakis administration’s main priority is to double Foreign Direct Investments in the coming years from 1,8% of GDP today.

“The big investment projects that have started such as the development of the former Hellenikon airport in Athens, the largest urban regeneration project in Europe, and luxury hotels and residences in Greek islands and Peloponnese, are milestones of the new, improved business environment in Greece,” Georgiadis noted in his speech.

John P. Calamos, Sr., Founder, Chairman and Global Chief Investment Officer, Calamos Investments, stated that he “remains very optimistic for global equity markets. While the economic impact of COVID-19 has been significant, the fiscal and monetary response worldwide has been equally significant. When we do have an effective treatment or vaccine, we would expect market breadth to widen and exposure to more cyclical industries to begin to outperform globally. In the interim, the disruption caused by COVID-19 has resulted in a rapid acceleration in the adoption of many of our preferred secular themes.”

In addition, Calamos noted, “The Real Estate industry is very compelling in this environment with the potential rise in inflation given the substantial increases in government spending both within the U.S. and the Eurozone. The Energy sector is facing supply/demand pressures with the unprecedented worldwide decrease in airline traffic and the resulting increase in supply.”

Red Apple Group Chairman & CEO John Catsimatidis said, “Congratulations to the Greek Government for swift and effective action against the coronavirus.”

About investing in Greece, he noted that “positive things are happening in Greece with the new government. Mitsotakis is a highly educated, business person, that understands what the market needs to attract investors. 

“I love Greece, as I was born there and I will be happy to invest along with Dean Metropoulos and John Calamos as soon as we find a good deal.”

Dean Metropoulos, Founder and CEO - Metropoulos & Co., stated: “First, congratulations to Greece for its excellent response to COVID-19. The world must now be very vigilant as we open up our economies and interactions.

“Economic challenges will persist with very high, global unemployment, the financial stress on many businesses, which will persist through 2021, and most importantly and not talked about, the future management of the unprecedented spending/investment by the U.S. Treasury and Federal Reserve, the EU and ECB and other countries around the world, particularly given the unparalleled levels of deficits: GDP in many countries, like Greece.

“On the positive side, the impressive response of pharma and university research, coupled with incredible technology, shows promise for early vaccine and other remedial drug solutions. These medical moves and the floods of government subsidies in the global economies, give financial markets the optimism that a return to “normal” is on the horizon, and generally markets are right.

“Recent reactions around the world against major and growing income inequality, and human prejudices, also require a commitment from all of us to provide leadership and solutions, not just conversations of these painful issues. I know my family and I are committed.”

More information is available online: https://csringreece.gr/forum/2020/.