Innovationskult oder Kultur? Building Cisco’s Innovation Story
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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 effects 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 finally 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 contents Publisher Alexandra C. Vovolini Founding Editor Robert Mc Donald Editor-in-chief Philip Pangalos Contributors Vanessa Alexakis, Eugenia Anastassiou ([email protected]), David Glass, Kerin Hope, Stelios Konteas ([email protected]), Dimitris Kontogiannis, Apostolos Lakassas, Nick Papandreou ([email protected]), Antonis D. Papagiannidis ([email protected]), Nikos Roussanoglou ([email protected]) 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 [email protected] Kerkyra Publications S.A. Communication & Marketing Manager Thanassis Vozikis [email protected] 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 [email protected] Secretariat [email protected] Accounting Department [email protected] 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 [email protected] www.economia.gr τηλ.: 210 3314714 [email protected] www.nb.org τηλ.: 210 3678989 B O O K S T O R E
Transcript of 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
([email protected]), David Glass, Kerin Hope,
Stelios Konteas ([email protected]),
Dimitris Kontogiannis, Apostolos Lakassas,
Nick Papandreou ([email protected]),
Antonis D. Papagiannidis ([email protected]),
Nikos Roussanoglou ([email protected])
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 [email protected]
Kerkyra Publications S.A.
Communication & Marketing Manager
Thanassis Vozikis
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
Secretariat
Accounting Department
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
www.economia.gr
τηλ.: 210 3314714
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
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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
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