* * * Ladies and Gentlemen, It is a great pleasure for me to be with you today, especially since this year has been proclaimed “Year of Shipping” for the EU and marks the entry of the Union of Greek Shipowners into its second century, after it celebrated its centennial last year. I will start my speech with an overview of international economic developments.
Then I will give an account of recent developments and describe the prospects of the Greek economy. I will go on to discuss the importance of Greek shipping and the challenges facing it. I will conclude by highlighting the preconditions for sustainable recovery of the economy. 1. The international environment The world economy is on a stable upward trajectory.