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8th Economic Summit of Serbia “ The Beginning of a new Era in Serbia”

1 January 2008.

Opening the meeting, the Deputy Head of the International Division of Eurobank EFG Group, Mr. Theodore Karakassis, said that summit is being held at the difficult moment for the entire world which has faced serious economic crisis.

8th Economic Summit of Serbia  “ The Beginning of a new Era in Serbia”
Opening the meeting, the Deputy Head of the International Division of Eurobank EFG Group, Mr. Theodore Karakassis, said that summit is being held at the difficult moment for the entire world which has faced serious economic crisis. He noted that Serbia has felt ‘economic shock’ too, and marked that the Serbian Government and the National bank of Serbia undertook excellent measures to secure the citizens’ deposit savings.

The President of the Executive Board of Eurobank EFG , Mr. Filippos Karamanolis, underlined that the Serbian banking system remains stable due to the regulatory framework enforced by the National Bank of Serbia, and that banks are liquid and highly capitalized. However, public confidence in the banking sector is still very fragile in Serbia (more than in neighbouring countries) due to the experience citizens had during the banking crisis in the 90s. A number of irresponsible rumours and opinions about the economic crisis and banks added to the concern and triggered unjustified withdrawals of retail deposits in October.

TGI Group International Director Mr. Simeon Tsomokos stated that Serbia had made considerable progress over the past eight years, reaching high economic growth by taking serious initiatives towards the market economy. This is a historical moment for Serbia for going ahead and reaching the most important goals, like entering into the EU and creating better life and standard of living’ Tsomokos said.

The Governor of the National Bank Serbia, Mr. Radovan Jelasic as well as the Deputy Foreign Minister for Economic Diplomacy, Mr. Petros Doukas addressed the participants.

Deputy Prime Minister and Minister of the Interior, Mr. Ivica Dacic, said that the aim of the Government is to bring Serbia close to the EU while at the same time cherishing good relations with Serbia’s traditional friends such as Russia. He added that Serbia has to be the safe country for all who want to invest in it and not to be a shelter for organized criminal, money-laundering and other wrongdoing.

Dacic expressed hope that ‘the new era’ is coming for Serbia where all the political messages from the pre-election campaigns will ‘result in the better life for all citizens’, which is not achievable without strong economic development.
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