The issue of globalization was at the center of his intervention Paul Krugman, American economist Nobel laureate speaking in a discussion with the Vice President of the Board of Directors. and CEO of the Intrakat Group, Alexandros Exarchou, in the context of the 28th Annual Economist Government Roundtable, on the subject of deglobalization and the return of protectionism and economic nationalism.

The Nobel laureate economist pointed out that there was a failure of assessment and forecasts at the beginning of globalization for the effects on regions of the world regarding the economic and social inequalities that were created but also effects on areas such as the environment etc. The issue is not to show the benefits of globalization nor to accelerate its pace but to have a real impact on the economy. He also mentioned the importance of climate policies as well as policies related to national security issues and to give room to poorer countries to develop policies in these areas. P. Krugman referred to the importance of a US-EU cooperation on international trade and related issues. Referring to the upcoming elections, he estimated that if D. Trump is elected, the USA will return to a protectionist regime.

For the future of Europe and the need for the EU to move forward. in decisive steps towards tomorrow in order to protect the economy and the citizens, the Vice President of the Board of Directors was appointed. and CEO of Intrakat Group, Mr. Alexandros Exarchou.

The head of Intrakat noted that the E.U. it did not learn much from the previous crisis, and as a result today it faces serious waves of Euroscepticism from its own citizens, which is a result of the disconnection of Brussels’ priorities from the needs of ordinary people.

The CEO of Intrakat also noticed that, while the E.U. is a one-way street for all of us, Brussels should not only emphasize the regulation of markets, but primarily the production of internationally competitive products and services, pointing out that today European products are the most expensive in the world, while at the same time Europe imports goods from third countries that e.g. they violate human rights, causing serious competition and ethical issues. And he noticed that only when the problem touches the European core, then only the E.U. reacts, as it did recently by imposing tariffs on electric cars produced in China in order to protect the European car industry from unfair competition practices.

As Mr. Exarchou pointed out, Europe is aging in mentality and will have to decide whether it will acquire a federal character that will have tools to protect the economy and citizens and centrally regulate problems, or whether it will continue to proceed as single market with ambivalence, with the risk of undermining the vision of a United Europe. And for this reason, he commented, the debate on a new Treaty should be opened now, if we want Europe to deal with international challenges in a coordinated manner, such as the wars raging in our region.

The head of Intrakat pointed to the Greek example of recent years characterized by the recovery of the economy. And he added that the country’s effort to get out of the crisis and avoid bankruptcy was unprecedented, considering the fact that it had a huge debt and the strongest currency in the world, and was crowned with success, thanks to the efforts and endurance of the Greek citizens .