We spoke with Michael N. Bapis, the Managing Director and a partner with The Bapis Group at High Tower Advisors, to get some insight on how investors from the other side of the Atlantic see the current situation in Greece and what they thought of Greek PM Tsipras’ recent trip to New York.
“A lot of our clients are concerned about the situation in Greece and in Europe because today it is a global economy,” says Bapis in an interview with Greek Reporter.
The Greek-American financial expert has been working in the financial industry since 1998 and manages wealth for individual clients and families who invest their resources in places around the globe. Although he was born in the US, Bapis knows the situation in Greece well since his family hails from Vlahiotka in the Peloponnese and from Mytilini on the Greek island of Lesvos.
Although the Greek PM recently got a new mandate from the Greek people, he has to pass difficult laws and enact reforms to improve Greece’s economy and attract investments. During his trip in New York City for the UN general assembly Greek PM Tsipras also spoke at different events inviting Greek-Americans to invest in Greece.
“unfortunately the Greek PM’s appearance at the Clinton Global Initiative wasn’t the best,” notes Bapis. “He made a few vague comments while the public is looking for him to say that he will fix taxation, tackle corruption and deal with the bad loans.”
Bapis’ investors are still asking about Greece, “because they see a distressed economy that at some point will turn around,” notes the Greek-American financial expert.
“We are still long ways away from that cause we haven’t seen job growth, the unemployment is still very high.”
However, Bapis believes that there are opportunities in Greece as long as there is stability.
“There are opportunities across Greece. It’s a beautiful country with water everywhere, beautiful beaches and caring people.”
“From an investment standpoint I will probably look into real estate, energy and the natural resources, once the country has the necessary stability we are all looking for.”
Watch the full interview below: