ECONOMY

KAS rulings hurt Greece’s reputation

kas-rulings-hurt-greece-s-reputation

The life and times of the Central Archaeological Council (KAS) have now become the focus of foreign media on both sides of the Atlantic, increasing the negative publicity for Greece.

The negative attitude of KAS toward big investment projects such as those at the port of Piraeus, the former airport at Elliniko and the plot Afandou on Rhodes have grabbed the attention of prestigious media such as The Wall Street Journal, Bloomberg and the Financial Times.

The foreign media do not dispute the need to protect and display antiquities, but they do stress that KAS decisions tend to be synonymous with major delays that often lead even to the risk of projects being canceled.

Fund managers in London tell Kathimerini that investors tend to take the reports of those media as gospel, so the damage inflicted by the KAS verdicts on the country’s attractiveness as an investment destination is huge.