The European Union must act fast to prevent the deindustrialization of Europe, the president of the Hellenic Federation of Enterprises, Dimitris Papalexopoulos, warns in an interview with Kathimerini.
The European Union must act fast to prevent the deindustrialization of Europe, the president of the Hellenic Federation of Enterprises, Dimitris Papalexopoulos, warns in an interview with Kathimerini.
Domestic industries have to fight an unequal battle compared to their European competitors to maintain production.
Greek Minister of Development Kostas Skrekas emphasized the necessity for the European Union to embrace a unified industrial strategy geared toward ensuring autonomy, advancing green and digital transitions in alignment with significant global challenges, and upholding indisputable European values during his address at European Union Informal Competitiveness Council on Friday.
Before you rush to answer in the affirmative, here are two important news stories that – as so often is the case with important news – went largely unnoticed last week.
“A leap forward is feasible and will benefit all of us. It is up to us, but requires determination and cooperation,” said the chairman of the Hellenic Federation of Enterprises.
A delegation from the military academy of Saudi Arabia led by its commander, Major General Almalki Hassan Abdullah, visited the premises of the Hellenic Aerospace Industry (EAB) on Wednesday.
The chairman and chief executive of Athens-listed group Mytilineos, Evangelos Mytilineos, said he expects the company to increase its output to reach up to 4% of Greece’s gross domestic product.
Imerys Bauxites’ operations will merge with Mytilineos’ wholly-owned subsidiary, Delphi Distomon, as part of the Metallurgy Sector’s ongoing vertical integration.
The participation of manufacturing in Greece’s GDP has returned to the levels of 2008.
Eurozone industrial production declined by more than expected in October, with the sharpest drop for capital goods such as machinery, reinforcing survey indications that the single-currency area is in a recession. The EU’s statistics office Eurostat said on Wednesday that industrial production in the 20 countries sharing the euro fell by 0.7% month-on-month in October for a 6.6% year-on-year drop.
Greek factory activity picked up slightly in November for the 10th month in a row amid rising production volumes, but subdued export sales held back order books, a survey showed.
Lower labor taxes, a new framework of labor relations, increased participation by women, young people and recently pensioned-off people in the labor market, and a brain gain were the proposals that Hellenic Federation of Enterprises (SEV) Chairman Dimitris Papalexopoulos referred to on Tuesday.
Greek industrial output declined 0.5% in August compared to the same month a year earlier, after a 1.9% drop in July, data from statistics service ELSTAT showed on Tuesday.
Hellenic Defense Systems SA (HDS) received a new order for components of the European medium-range infrared homing air-to-air Iris-T missiles worth 28.8 million euros, it announced on Tuesday.
Evangelos Mytilineos has blamed the European Union for inaction in the face of the continuous contraction of industrial production due to the war in Ukraine.
Industry in Greece offers the highest wages compared to other sectors of the economy, at a rate that has varied between 26% and 32% in recent years.