x

Politics

US Ambassador Says American Businesses Keen on Greece

ATHENS – A post-pandemic Greece is seen as a fertile field for investments by American companies – and even during the health crisis – US Ambassador Geoffrey Pyatt said.

He attributed much of the interest to Greece moving ahead with combating climate change in the wake of wildfires and floods and a brutal heatwave this summer that was blamed largely on the phenomenon.

Greece will require 500 billion euros ($581.93 billion) in investments to meet emissions reduction targets by 2051, according to a study by the McKinsey firm, said Kathimerini.

Speaking to a panel at the 1st Athens ESG & Climate Crisis Summit, Pyatt referred to interest by American companies in Greece, with Prime Minister Kyriakos Mitsotakis trying to lure more Foreign Direct Investment (FDI) to help an economy battered by COVID-19 lockdowns.

Presenting the findings, McKinsey’s Chairman and Managing Partner George Tsopelas said 75 billion euros ($87.29 billion) of must be new funds, while the rest will concern capital expenditure already scheduled that will now be redirected.

McKinsey estimated that the decarbonization of the Greek economy will create many jobs and add some 5 billion euros ($5.82 billion) per year to the economy, or an estimated 3 percent of the annual Gross Domestic Product (GDP) of 172.1 billion euros ($200.3 billion) the report added.

RELATED

ATHENS - Marking the two-year anniversary of Russia’s ongoing invasion of Ukraine, Greece reiterated its support for the fight, the Foreign Ministry declaring Greece remains “determined to continue to support Ukraine” in its just fight for its independence, two years after Russia’s invasion.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

BRIDGEPORT, Conn. (AP) — It’s been nearly four months since a judge tossed out the results of a Democratic mayoral primary in Connecticut’s largest city due to allegations of ballot stuffing, sending voters repeatedly back to the polls and thrusting Bridgeport into an unflattering national spotlight.

ATHENS - Greece’s ministries of Foreign Affairs and Digital Governance said it will create a digital platform using Artificial Intelligence (AI) to identify and rebut fake news spreading lies about the country.

Michigan's presidential primary on Tuesday will offer a serious test of President Joe Biden's ability to navigate dissent within the Democratic Party over his response to Israel's war with Hamas.

WASHINGTON (AP) — Inflation has changed the way many Americans shop.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.