private enterprises

private enterprises

Greek government needs to take painful steps – Globo CEO

1w ago
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Costis Papadimitrakopoulos, chief executive of Globo (LON:GBO), says the new government in debt-laden Greece needs to find the right reforms and take the necessary steps to put things on track and re-establish the country’s credit. The boss of the enterprise mobility management group says the government needs to reverse the policies of previous bureaucracies who, “instead of cutting down expenses on the public sector, which has become a giant, actually increased income by imposing taxes on private enterprises and citizens creating a significant loss of GDP.” Globo has a ‘small’ exposure to Greece and relocated its funds outside the country at the start of 2015, and any potential Grexit would have limited impact on the company which is seeing ‘substantial’ global growth.