Trade with Greece
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certain for-
eign institutions show
great interest in Greece’s status in this area.
It is no coincidence that innovation and technolo-
gies, as well as their growth potential, were the
subject of a comparative study conducted by
Deutsche Bank, in collaboration with Frankfurt
Goethe University. This study reviewed the condi-
tions prevailing in Greece, Ireland and Portugal:
three crisis countries that have been facing a
recession for the past few years.
The bank’s conclusion is that Greece should
focus on investments in the fields of technology
and innovation, and offer incentives for the oper-
ation of high-tech firms. And this because it has to
be recognized that the major delay of Greece and
the European South in regard to these matters,
leaves no room for further progress.
The study points out that Greece’s national inno-
vation system displays many weaknesses and is
in dire need of improvement, since, in this field,
Greece has been too long dependent on import-
ed technologies and expertise. It is also noted
that the Greek state, as well as most Greek enter-
prises, have not paid too much attention to inno-
vation in the past few years, unlike Portugal,
which tried harder, and Ireland, which actually
managed to attract investment in this field. This is
why, according to Deutsche Bank, there has been
no actual improvement of the Greek economy’s
innovation indicators. It is telling that the R&D
expenditures of both the public and the private
sector were lower in comparison to the other two
as well the state;
● the widening of business opportunities for small
entrepreneurs, the self-employed, the women,
the unemployed, the young, the disabled, and
the inhabitants of island and remote areas,
through their participation in information socie-
ty and e-commerce.
In order to bear fruit, business plans must be
effectively implemented; this is hard, though, in a
country with inherent problems and no collabora-
tive culture. This, in turn, requires, on one hand
the development, mobilization and utilization of
human resources and, on the other hand the uti-
lization of cutting-edge technologies. All citizens
must, as working people, realize that entrepre-
neurship is everybody’s concern, since it means
innovation, efficient resource deployment, new
ideas and solutions, continuous improvement.
The combination of entrepreneurship, human
capital and new technologies is the key; it is the
only way out of the crisis and the only source of
optimism for the country’s future.
What do foreigners say about
Greek innovation?
And, while a big debate is still underway in Greece
regarding the direction the country should follow,
the infrastructures it must introduce and the rea-
sons why it has to follow the international trend,
