The International network put in place by these multinational organizations have transformed the payment and settlements arrangements for travel and commerce. However, the development of these networks has been based on the standard, rules and regulations of few developed countries. Further, the legal requirements on the country of operation are also not fully taken into consideration.
While some deceleration of growth immediately and for a short period after the Olympics may occur, I remain confident that Greece will stay on a dynamic growth path for years to come provided that fiscal consolidation accelerates and bureaucratic blockages are eliminated.