scholarly journals Fighting the Financial Crisis in Greece: The Privileged Company to Protect Production and Trade in Currants (1905) as International Bank Cooperation

2013 ◽  
Vol 10 ◽  
pp. 107 ◽  
Author(s):  
Korinna Schönhärl

<p>The global economic crisis in the 1890s affected the economy of Greece severely, and in 1893 the Greek State had to stop servicing its foreign debt. Part of the<br />problem was the lack of diversity of Greek agricultural production, which was focused on raisins and currants (especially flavourful raisins, grown exclusively in the area around Corinth) for export. The collapse of market prices for this good seriously affected the Greek treasury and society in the growing regions. The Greek government responded by trying to withhold part of the harvest in fertile years to stabilise world market prices. Plans to organise a monopoly company for the currant trade necessitated high sums of capital from abroad. This article investigates the question of how foreign bankers in London (Hambro &amp; Son, Emile Erlanger) and Paris (Banque de l’Union Parisienne) could be convinced to participate in the project. Which factors allowed foreign bankers to trust in the Greek national economy despite its poor reputation? What factors influenced their risk management? The focus is on the role of Greek brokers in persuading the foreigners to invest in Greece, especially the role played by Ioannis Pesmazoglou, the director of the young and innovative Bank of Athens.</p>

Author(s):  
P. V. Ushanov

The article terminates the author's series of publications on the impact of system of stereotypes of behaviour – "success formula" - on the development of phases of the life cycle of the socio-economic systems [7-11]. The author argues in favor of the view that lifecycle of any object of management is a complex spiral consisting of 10 phases, each of which, in turn, can be regarded as a separate life cycle. Because of the stereotypes of behaviour, prevailing during previous lifecycle phases, a change of lifecycle phases often leads to a crisis and is accompanied by painful correction of exchange proportions. The author motivates his conclusion that the modern economic crisis is caused by the distortion of exchange proportions. The indexes of changes in exchange proportions are proposed to use as an indicator of stability of the world market. Proposals on overcoming the crisis are made.


2021 ◽  
Vol 16 (1(21)) ◽  
pp. 8-16
Author(s):  
Naira Virsaladze ◽  
Malvina Kipiani

Agriculture is an important and organic part of the national economy of any country. Its role is great in ensuring the country's food security, improving the balance of payments and strengthening state independence. The state and proportions of development of other sectors of the national economy depend on the level and speed of development of agricultural production. This connection is reflected in both technical-technological and industrial-economic connections. At the same time, this connection is bilateral, with the increase of agricultural production, the structure and quality of food of the population improves, the volume of imported food decreases, which has a positive impact on reducing the balance of payments deficit and increasing the degree of independence of the country. Due to the important role of agriculture, the field received a lot of attention in the first years of the restoration of independence, which is confirmed by the agrarian policy developed and implemented during that period, whose primary task was to ensure the country's food security and strengthen food independence. In connection with the important role of agriculture in the first years of the restoration of independence of the region, much attention was paid, which is confirmed by the agricultural policy developed and implemented during this period, the main task of which was to ensure the country's food security and strengthen food independence. At the same time, it was a great challenge for a country with a devastated economy, followed by significant reforms in agriculture, restructuring of the sector and the creation of an appropriate legal framework, the integration of state regulation of the market economy and self-regulatory mechanisms. However, under the influence of a number of external and internal factors, it was not possible to fully implement the developed agrarian policy. Agriculture is still characterized by low productivity and, consequently, by a small share in the sectoral structure of the national economy. The country has serious problems in supplying and providing vital agricultural products such as wheat, corn, potatoes, vegetables, meat and poultry. The global pandemic and the resulting global economic crisis have put the issue of solving the country’s food security problem on the agenda. To this end, the revitalization of rural areas, social stability and balancing the level of migration from rural to urban areas should be a priority. Establishing food security is a complex task and is primarily the responsibility of the government. There is no universal mechanism for solving the global food security problem in the world today. This problem must be solved at the national level, as food security is considered to be a level of national food production that allows the principle of self-sufficiency of the population and state reserves with food to be implemented in accordance with scientifically substantiated norms. The current severe economic crisis in the country has further intensified the social background and demanded the strengthening of the stimulating and organizing function of the state. The issue of state regulation of the agricultural sector should be considered in close connection with the development of entrepreneurship and self-regulation of production at the micro level, and priority should be given to measures that maximize the adaptation of producers to market economic conditions, increase production efficiency and competitiveness, which will ultimately contribute to the saturation of the market with domestic products and state food security. It should also be noted that recent years and even more so the pandemic process, have once again confirmed the notions of omnipotence on the market mechanism. The market does not have a magic wand that will solve all the problems by itself and regulate the existing problems. The myth of the role of the "invisible hand" and the crisis itself is a thing of the past. The modern world community supports the social orientation of the economy, therefore "realizing the dangerous nature of social polarization", which can not be solved by bypassing state regulation and mechanisms.


2014 ◽  
Vol 60 (No. 2) ◽  
pp. 49-64 ◽  
Author(s):  
M. Crescimanno ◽  
A. Galati ◽  
T. Bal

The world economic crisis that, since 2008 has also struck the real economy, cannot be attributed only to the United States bubble which in 2007 involved the mortgage credit market, but it is the result of a series of factors among which the imbalance of the financial market, of the public accounts of the main economies and the real sector. Also agriculture, which has always been considered an anti-cyclic sector, has seen a strong slowdown with a plunge in the trade flows. This paper analyses the changes which happened to the competitive position in the world market of some Mediterranean countries and of France, Italy, Spain and Turkey in particular trying, moreover, to understand the vulnerability of the countries belonging to the EU concerning their integration into an economic and monetary union. The results show how much the crisis has involved all the countries bringing, on the whole, a reduction of the competitive potential in the international market which has been less strong in Turkey, the country characterized by a low per capita income and a low public debt. It can be seen, in particular, how the sectors with a strongest commercial specialization have showed a better resistance to the pressure of the recessive trend. &nbsp;


Author(s):  
В. П. Киценко

Обґрунтовано необхідність інноваційно-інвести-ційного розвитку агропромислового комплексу Украї-ни, як одного із провідних секторів економіки. Визна-чено роль науки, як джерела інновацій. Висвітлено перспективність біологічного вектору розвитку аг-ропромислового виробництва в цілому та застосу-вання препаратів на основі корисних ґрунтових мік-роорганізмів зокрема. Представлено інноваційні пе-реваги застосування мікробних препаратів як вироб-ничих засобів, значення яких особливо зростає в умо-вах економічної кризи. На прикладі конкретного інно-ваційного проекту досліджено ефективність вкла-дення інвестицій у виробництво продукції сільського-сподарської мікробіології. The necessity of innovation and investment development of agro-industrial complex of Ukraine, as one of the leading sectors of the economy is substantiated. The role of science as a source of innovation is defined. The prospects of biological vector of development of agricultural production in general, and the use of drugs on the basis of beneficial soil microorganisms in particular are highlighted. Innovative advantages of microbial preparations use as industrial means whose value increases especially in the economic crisis are presented. On an example of a specific innovation project the effectiveness of investments in the production of agricultural microbiology is investigated.


2017 ◽  
Vol 6 (2) ◽  
pp. 167
Author(s):  
Panagiotis Kimourtzis ◽  
Georgios Kokkinos ◽  
Ioannis V Papageorgiou ◽  
Ioannis F Papageorgiou

Greece has been the focus of the mass media because of the ongoing economic crisis and the mixed migration flows that use the country as entry point to Europe. Although conceptually different, both phenomena converge in a vicious cycle that triggers an othering process. The economic crisis transfers Greece from the geopolitical centre to the periphery making the country dependent on the external economic and political decision making. Nevertheless, apart from being at the border, Greece is also the border of Europe. Peripherality appoints to Greece an instrumental role for the management of migration. Boundaries as “thresholds” produce patters of inclusion and exclusion creating by that perceptions of the Self and the Other. To that extent, the instrumental role of Greece as consequence of its peripherisation amplifies locally an othering process. Based on a different function of borders and peripheries, namely the endorsement of antagonistic narratives, this article discusses potential interventions in that vicious cycle. A local cultural diversity in Rhodes, Greece, the Rhodian Muslim community has been the receiving end of diversity management policies with particular emphasis on education throughout the 20th century. The knowledge accumulated may support new efforts countering the othering process. ResumenGrecia se ha situado en el centro de atención de los medios de comunicación a causa de la actual crisis económica y de los flujos migratorios mixtos que utilizan el país como punto de entrada a Europa. Ambos fenómenos convergen en un círculo vicioso que desencadena un proceso de alterización. La crisis económica mueve a Grecia desde el centro geopolítico a la periferia, haciendola dependiente de la toma de decisiones económicas y políticas externas. Además de estar en la frontera, Grecia es también la frontera de Europa. La perifericidad le atribuye un papel instrumental en la gestión de la migración. Los límites como "umbrales" producen patrones de inclusión y exclusión que se crean por esa percepción de Sí mismo y del Otro. El papel instrumental de Grecia como consecuencia de su periferización amplifica localmente un proceso de alterización. Basado en una función diferente de las fronteras y las periferias, y con el respaldo de narrativas antagónicas, en este artículo se discuten posibles intervenciones en ese círculo vicioso. Una diversidad cultural local en Rodas (Grecia), la comunidad musulmana rodesa, ha sido la receptora de las políticas de gestión de la diversidad con particular énfasis en educación a través del siglo XX. El conocimiento acumulado puede respaldar nuevos esfuerzos para contrarrestar el proceso de alterización. 


2013 ◽  
Vol 2 (4) ◽  
pp. 7-12 ◽  
Author(s):  
Dimitrios Goulas ◽  
Georgia Kontogeorga

Greece, in the frame of appliance of e-Government, the last years has made significant steps which have changed the way its public services work and especially the local self government, which is represented by municipalities. Many countries, not only in the European Union but also throughout the world, are adopting decentralization reforms in order to empower local communities. In Greece specially, the economic crisis that started from 2009, gave one extra motivation to use decentralization to make local self government more efficient. Decentralization is the process of transferring authority, responsibility and accountability from central to local governments. To accomplish this, Greek government applied the Law 3852 «Kallikratis plan», instituted in 2010, reforming the local self administration and its duties. The purpose of this paper is to present the consequences of this change to the e-government steps that were done before «Kallikratis plan».


2006 ◽  
Vol 96 (3) ◽  
pp. 223-233 ◽  
Author(s):  
J. Jaramillo ◽  
C. Borgemeister ◽  
P. Baker

AbstractThe coffee berry borerHypothenemus hampei(Ferrari) is the most serious pest of the world's most valuable tropical export crop. Since the last review on this insect was published six years ago, many new studies have contributed to an improved insight into the biology and ecology of the beetle, and have indicated new avenues for integrated and biological control. The latest developments in research, both laboratory and field, on the pest, its natural enemies and their implications for integrated control ofH. hampeiare summarized, with a particular focus on the situation in The Americas. Lately, the global coffee industry has changed radically; it has suffered a long cycle of lowest-ever world market prices caused by overproduction and technological change. At the same time, the advent of sustainable certification schemes has had a major impact on the industry. The role of integrated pest management and biological control ofH. hampeiin an era of changes in the coffee industry is discussed.


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