The two-day 5th Greek Investment Forum commences today (Tuesday) in New York City with conditions forcing Athens to set the expectations bar quite low.
The forum starts with Greece expecting the European Central Bank to bring back the waiver that would allow Greek banks to get cheap loans with the ECB accepting state bonds as collateral. At the same time, the British referendum on Thursday over Great Britain’s stay in the European Union looms large.
Twenty Greek listed companies will participate in the forum, which is organized by the Athens Exchange and the Hellenic-American Chamber of Commerce, and will be held at the Sofitel Hotel. Sponsors of the 5th Greek Investment Forum are Alpha Finance, Eurobank Equities, Euroxx,, Morgan Stanley, NBG Securities and Piraeus Securities.
Coming after a difficult completion of the first review of Greece’s third bailout program, the forum comes at a critical juncture for the Greek economy. Analysts say that the participating companies will have a difficult time convincing foreign investors about the stability of Greece’s economy.
The Greek companies will have the support of Minister of Economy, Development and Tourism Giorgos Stathakis and Secretary General for Private and Strategic Investments Lois Labrianidis, who will hold meetings with foreign investors.
The Greek participating companies are National Bank, Alpha Bank, Eurobank, Piraeus Bank, Motor Oil, Mytilineos Group METKA, Titan, OPAP, Aegean Airlines, HELEX, Fourlis, GEKTERNA, Grivalia Properties, HEP, Intralot, Lamda Development, MIG, Attica Bank, Pangaea REIC, Sarantis and Thrace Plastics.
Among the funds that will meet with the Greek enterprises are investment funds such as York Capital Management, AMERRA Capital Management and Greylock Capital Management.
There are about 400 scheduled meetings, but the number of funds that will participate are expected to be less than in previous years.