|
ATHENS, Sept. 16 (Xinhua) -- A Greek default could trigger a global recession worse than the one ignited by the 2008 collapse of Lehman Bros Holdings, but "is not on the plate," according to a confident Greek investor and market expert George Kofinakos who sees "more investments opportunities than risks" in the Greek economy. As CEO and Executive Director of Enolia Premium Capital, a Luxembourg based private equity fund, investing in electricity generation from renewable energy sources in South East Europe and country advisor to Storm Harbour, a global markets and financial advisory firm, Kofinakos voiced optimism over the prospects of debt-ridden Greece, in a recent interview with Xinhua. On the contrary, he suggested to international investors to seize the opportunities on offer in various sectors. "For investor profiles that are medium-term and long-term Greece in the current situation is bottom and is providing more opportunities than risks. I am optimistic that Greece in two years time will be on the right track," he stressed, rejecting nightmare scenarios of a default. "My feeling is that politicians have understood eventually that the systemic risk that could arise from the current crisis would be much different and higher than the systemic risk we faced back in 2008 when we had the Lehman default," said Kofinakos, pointing to a deep global recession. When the first subprime crisis came over three years ago, the United States and Europe had the sovereign stability to save the financial sector at that point, he explained. This time the picture is different. Since it emerged in late 2009 the Greek debt crisis fuelled fears of a domino effect on the European common currency zone and worldwide. Despite a bold three-year austerity and reform drive launched in 2010 in exchange of rescue loans from the European Union (EU) and the International Monetary Fund, anxiety remains, since Athens lags on targets. But the Greek expert does not see scenarios of a Greek default come true. "I believe bankruptcy in the context we have seen in various countries before ... is not on the plate," he stressed, predicting further haircuts of the Greek debt instead that would not lead to the worst case. As many local and foreign experts, Kofinakos talks of a crisis created by a rather political than financial problem. "What we are facing is that the politicians are following the markets rather than the other way around," he noted, pointing to a string of political decisions that should be taken so that the markets will follow. "This kind of solutions are to the direction of quick fiscal consolidation of the European countries, euro bond issuance and quick solution to the Greek problem," he argued, expressing optimism for the future. The e-commerce company in China offers quality products such as Stainless Steel Filter Housing , China Sectional Water Tanks, and more. For more , please visit Commercial Water Softener today!
Related Articles -
Stainless Steel Filter Housing, China Sectional Water Tanks,
| 
