Newsroom
The Economist's 28th Annual Government Roundtable concluded with great success in Greece, running from July 2-4. The event covered a range of critical topics including geopolitics, the environment, and technology. Notable speakers included Greek Prime Minister Kyriakos Mitsotakis and Nobel laureate economist Paul Krugman.
"Technology is everywhere; it is our future and the future of the next generation by promoting transparency and changing areas of our daily lives," said Yannis Georgoulas, Independent Director of ECOMMBX. Georgoulas emphasized the challenges of promoting innovation in Europe, identifying the lack of capital markets integration as a significant hurdle.
He noted that this challenge drives startups to seek opportunities in the U.S. market. Additionally, he pointed out that while strict regulations are necessary, over-regulation can increase costs to unsustainable levels for businesses.
Georgoulas stressed the need for solutions to these issues, highlighting Cyprus as an example. The technology sector in Cyprus contributes 13% of the country's GDP, second only to tourism. The country attracts new companies and human resources, with over 300 fintech companies operating there. Georgoulas underscored the importance of having the right personnel and identifying suitable partners for adopting new technologies.
