Athens Editor: Hijacking May Hurt Economic Plans / Visitor to City Says Greece Seeking Ways to Attract Foreign Investment

By Nichols, Max | THE JOURNAL RECORD, June 29, 1985 | Go to article overview

Athens Editor: Hijacking May Hurt Economic Plans / Visitor to City Says Greece Seeking Ways to Attract Foreign Investment


Nichols, Max, THE JOURNAL RECORD


For his own sake, Ioannis Marinos would have to consider himself fortunate at the timing of the TWA flight that was hijacked in Athens, Greece, about two weeks ago.

"I was scheduled to take that flight," said Marinos, director and editor of an economic magazine called "Economikos Tachydromos" in Athens. "However, because I was to receive first prize in a journalist competition, I had to postpone my trip to the next day."

For the sake of Greece, its economy and its relations with the United States, however, the hijacking was "unfortunate," Marinos said.

Marinos was in Oklahoma City this week during a journey to study the U.S. economy and the impact of economic policies and programs.

The timing was signficant, because the trip was planned long before the hijacking. The Marinos journey was a way for Greece to unofficially study potential changes in its socialist economic system by studying the effects of free enterprise.

Oklahoma was suggested by the U.S. State Department as a major stop in this study.

The timing of the hijacking was unfortunate, he said, because of the subtle changes that already were under way in the socialist government of Greece and its effort to improve the economy of Greece.

That, of course, was before the declaration of President Ronald Reagan that American tourists should avoid Greece, because Greece released three of the hijackers.

"I felt the climate was changing in the relations between our two countries," said Marinos. "I had the feeling, from talking to our ministers in Greece, that changes might be made in our country that would lead to economic talks.

"We need foreign investment. Our own capitalists are not large enough to improve our economy by themselves. If we can attract foreign investment, it is possible that our own investors might follow."

Tourism certainly is extremely important to Greece. The country attracts about 6 million tourists a year. That's more than half the population of 9.5 million in Greece.

In terms of money, tourism may bring in as much as $5 billion, Marinos said. That makes a major difference in the balance of payments in Greece. The country exports only about $4.5 billion in goods, while importing $12 billion.

"We hope the declaration of President Reagan will not hurt too much," he said. "We don't think it will, because this is the peak of the tourism season, and most people have made their plans."

However, the long-range problems of the Greek economy involve far more than tourists. The major industrial operations are owned by the socialist state. Unions are strong, and industry needs updating to compete in what Marinos called "the third industrial revolution" of the world.

Beyond that, Greece must import about 30 percent of its energy.

Foreign investment is needed to bring the Greek economy up to date, said Marinos, but attracting foreign investment is a delicate problem. It requires a profit motive and tax incentives for investors.

"Because we are a socialist state," he said, "we can't just say we were wrong all this time. One of our big questions is what we would do with the money if we attract it."

So, Greece is looking for ways to develop its own methods of incorporating free enterprise into the socialist state, something like the way the Peoples of Republic of China is seeking its own combination of free enterprise and Communism. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Athens Editor: Hijacking May Hurt Economic Plans / Visitor to City Says Greece Seeking Ways to Attract Foreign Investment
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Welcome to the new Questia Reader

The Questia Reader has been updated to provide you with an even better online reading experience.  It is now 100% Responsive, which means you can read our books and articles on any sized device you wish.  All of your favorite tools like notes, highlights, and citations are still here, but the way you select text has been updated to be easier to use, especially on touchscreen devices.  Here's how:

1. Click or tap the first word you want to select.
2. Click or tap the last word you want to select.

OK, got it!

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.