Despite the fact Greece carries they largest debt in the eurozone, it is in a comparatively a better position that other countries of the EU south, Greek Prime Minister Kyriakos Mitsotakis said on Wednesday, because it has lower debt repayment needs.

In a discussion with Hellenic Federation of Enterprises (SEV) Chair Dimitris Papalexopoulos, at SEV's General Assembly meeting, Mitsotakis also noted that Greece's position was also positively affected by the fact that it had borrowed funds, increased its cash buffer, and changed its brand image for the better. "This is reflected in the money markets, capital markets, and upgrades by investment funds, and naturally reflected as well in entrepreneurship and businesses, as well as in the ease by which businesses implement investment plans," he noted.

"Greece as a risk has been significantly reduced, and this is what allows us during this difficult turmoil to look at the future with some optimism," Mitsotakis said.

SEV's Papalexopoulos

Greece is stronger today, more reliable and more mature than it was a decade ago, but "we are now facing a new, acute crisis, in an environment with great uncertainties," said Hellenic Federation of Enterprises (SEV) Chair Dimitris Papalexopoulos.

"The danger lies in our ability to implement speedily anything that has an investment meaning - because of the country's framework of operation. That is why Greece must under no circumstance lag behind in completing all critical reforms," the businessman said. 

Commenting on the repercussions of the war in Ukraine, Papalexopoulos asserted that "for at least the next five or six years, Europe will have a competitive disadvantage in the cost of energy, as will Greece. We must at the very least take care that Greek businesses are not at a disadvantage compared to the rest of Europe. We are not there yet."

The SEV chief addressed the federation members, pointing out that "businesses in Greece do not invest as much as necessary in innovation and in their digital transformation. Neither do all businesses invest adequately in their people." There is a long way to go, he added, "before corporate governance becomes truly compliant, and before it incorporates diversity, equality, and use of the leadership skills of women."

He also pushed for deeper reforms: "We ask of the state greater boldness in reforms. We demand greater boldness of ourselves in becoming transformed and modern."