The 1st investment conference organized under the auspices of SFK Financial Group focused on the global economy amidst the intensifying geopolitical uncertainty.
The President of SFK Financial Group, Dr. Evangelos Sfakianakis, in his speech, highlighted the company’s latest analyses, focusing on recent macroeconomic data and the dynamics of global stock markets. Specifically, Dr. Sfakianakis underlined that the possibility of a recession in the US economy remains the most likely scenario. Regarding the European economy, he emphasized that the situation is fragile, but its fundamentals remain better compared to the US, despite significantly lower growth forecasts for 2024 (0.8% for Europe, 2.7% for the US). He also noted that both economies are still facing inflationary pressures.
The director of the website Naftemporiki.gr, Michalis Psilos, outlined the uncertain global geopolitical and economic environment. He referred to the Russia-Ukraine war, the dramatic developments in Syria, which are changing the map of the Middle East, the strengthening of nationalist movements and the pressures on globalization. He explained that Europe faces the threat of recession, deindustrialization and political instability, while the BRICS are challenging the dollar and seeking their own currency. Regarding Greece, he stated that, despite stability, strategic investments are required to face the uncertain international environment.
Theodoros Pantalakis focused on the banking system, noting the major changes since the 2008 crisis, such as stricter supervision and recapitalizations. Although bad loans have decreased, risks remain, while issues such as climate change, the aging population and national debt are putting pressure on the market. He pointed out that banks need ongoing reforms.
On his part, Gikas Manalis, noted that the global outlook remains uncertain, while the BRICS are showing dynamic growth. For Greece, he emphasized the positive outlook, but underlined challenges such as demographics and pensions.
