The economic tectonic changes and opportunities for investment in Greece were highlighted during the panel moderated by Mr. Yannos Kontopoulos, Managing Director of the Athens Stock Exchange Group at the 9th Delphi Economic Forum.

THE Cross Asset Research Analyst JP Morgan, United Kingdom, Mr. Nikolaos Panigirtzogloureported that the market is moving on the hope of deflation, but in reality inflation is rising.

He emphasized that neither bonds, nor capital are a very good investment place in this period and characterized commodities as quite better, although he commented that he would avoid gold.

For our country, he said that the positive news is the restoration of the investment level, but he is worried about the possibility of our country’s development, asking the question “after the Recovery Fund, what comes next?”.

From his position, Global Head of FX and EM Macro Strategy Barclays Corporate & Investment Bank, United Kingdom, Mr Themos Fiotakispointed out that there are three economic tectonic plates that move slowly but cause earthquakes.

The first is the USAwhich maintain a distancing attitude and are a closed economy in overstimulation.

The second is the Chinawhich rapidly mutates its economy in the short term by “targeting” its key sectors.

The third is Europe which is receiving a severe blow to its economic model and is experiencing high borrowing rates along with slowing growth. This means that it has to react immediately, but the problem has not yet been identified, while its “business model” needs to change.

Regarding our country, he said that it is in the third mega-cycle of its economic development and that the shift to investments in the technology sector will help it.

The CIO of Piraeus Bank, Mr. Panagiotis Vlachopoulospointed out that the inflation is due to globalization, the changes that have started in the Chinese economy, the movement of capital and labor personnel, as well as favorable tax regimes.

He estimated that inflation is here to stay and we need to think outside the box and look at what has happened historically in periods in which we have had disruptive movements. He characterized real estate as a good investment asset, while technology is also quite important.

For Greece, he said the Sovereign Wealth Fund is good news. He added that all sectors of the Greek economy are now worthy of investment as they survived the crisis. Technology is a sector that could be an important pole of investment in our country as it is a point of reference for both investment and the attraction of workforce from industry giants.