This is something that is changing for the better…

Written by Kostas Stupas

1) Here’s something that is changing for the better…

After Amazon Web Services, Microsoft, Lamda Hellix and Google decided to move forward with major investments in creating digital infrastructure in Greece…

When three of the largest and most famous technology companies in the world invest in our country, this is not a coincidence or an exception, but rather signs that something good is happening.

Recently, Enterprise Greece decided to describe Microsoft’s investment as “strategic,” facilitating a faster start-up in building its three data centers in Spata, Koropi, Markopoulo and Attica.

Microsoft was one of the first major international players to decide on establishing a regional data center hub in our country which will form a “Data Center and Business Technology Support Corporation for the purpose of developing and delivering cloud computing services (Microsoft Cloud)”.

Google’s now arrival to invest in Greece to create the first Google Cloud Region for the broader Southeast Europe has cemented Greece’s emergence as a regional cloud service hub.

Skeptics will counter that, despite the size of several billion euros, these investments are capital-intensive and in turn do not create many direct, well-paid jobs.

I have already read on social networks engineers and professionals in this field that such investments need a few people per hundred square meters of space to operate. I’m sure they know what they’re talking about…

On the other hand, I understand that the presence of such digital centers in Greece and not in a neighboring country will be an incentive for many other companies that want to support their activities through these digital infrastructures to choose the wider region as the geographic area for your location.

Belonging to the circumference of a circle centered in another country in the region, as a state, is one thing, and being at the center is another.

These investments, for our country’s data, are of strategic importance and are similar to some like Esso Papas, Pesine, etc. that were made in the sixties and changed the image of the country.

Pesine (later Aluminium Greece) itself may have employed only a few hundred workers, but its presence in the country has caused the establishment of an entire branch of aluminum structural design and development business with significant export activity and the employment of tens of thousands of workers.

These huge investments in the country’s digital infrastructure along with the FSRU centers in Alexandroupolis and Rifthusa, natural gas pipelines to Bulgaria, Italy and others, and power and data transmission cables from Egypt and Israel are geopolitically and economically modernized in Hellas. .

These investments in the long term create conditions for better days … something is changing in the country and this is one of the few positive things.

2) Increase interest rates

Good evening Mr. Stupa

I have known you through your writing since 2008.

contact for the first time.

You should definitely raise the issue of raising interest rates on deposits from banks. While they have raised loan rates, they have not increased deposits in return and no one is talking about that. The whole philosophy behind the increase in interest rates by central banks is, among other things, to increase the interest rates on deposits in order to reduce the circulation of money in the economy and reduce prices. (inflation)

It is tragic that no one is talking about this.

I know the case is complicated, but in practice I live a certain event. I have a pre-approved loan (early June) for a property I want to build and I’m still waiting for the building permit with 3.20 fixed for 30 years.

Now they tell me that once the building permit is submitted for the final loan agreement, the interest rate will definitely be 4.20 to 4.50.

I will definitely look for other solutions, like static for a few years and then float or float from scratch, depending on what you give me.

The problem is that when I tell them about the increase in deposit rates, they start giving me economic theories etc. But the truth is that banks do whatever they want, especially in Greece.

I read a lot of articles opposing central banks raising interest rates.

But I stick to their own logic and what really happens. Since they want to raise interest rates and argue that it is a way to tame inflation, surely deposit rates should also be raised so that it is more profitable to keep money in the bank and not make purchases so that products become more expensive.

I’ve been reading to you occasionally recently and don’t know if you’ve already addressed this issue.

I think it is very important and should enter the news aggressively so that pressure is put on the banks to respond to the true will of the central banks and not just to guarantee their profits.

All that has been done for the time being is to widen the gap between lending rates and deposit rates even further.

Thank you very much

If you find time to answer me or bring it up in a general discussion, I’ll have to!

welcome

Demetrius Hatzis

[email protected]