International Monetary Fund Facts
The International Monetary Fund (IMF), in combination with the World Bank, is the world’s largest public lender today.

Key Facts About the International Monetary Fund

 

  1. In the 1930’s the world was overtaken with financial turmoil from the Great Depression. Markets all over the world collapsed and countries closed their doors to foreign imports. The IMF was conceived in July 1944 at the United Nations Bretton Woods Conference in New Hampshire, to protect the world from a similar blow and hasten financial recovery in war-torn nations.
  2. The Fund was created to act as a credit union and watch over the values of the world’s currency, while facilitating International Trade, promote employment and sustainable growth and help to reduce global poverty. Its main aim is to maintain economic stability and help countries complete financial transactions.
  3. The three main responsibilities of the IMF are: Surveillance — specifically to monitor the economic and financial policies of its members; financial assistance through loans to its members experiencing balance of payments issues; and technical assistance to help members design and implement economic policies that foster stability and growth.
  4. Primary aims of the IMF: Promote international monetary cooperation, facilitate the expansion and balanced growth of international trade, promote exchange stability, assist in the establishment of a multilateral system of payments and make resources available to members experiencing balance of payment difficulties.
  5. The IMF is accountable to 189 member countries. Its Headquarters is located in Washington D.C.
  6. A country’s voting power is based on the size of its economy and the amount of the quota it pays when it joins the IMF. The U.S. has the largest share of votes (approximately 17 percent). Decisions require a supermajority– 85 percent of votes.
  7. The IMF advocates currency devaluation for governments of poor nations with struggling economies.
  8.  The largest borrowers of the IMF are Portugal, Greece, Ukraine, and Pakistan. The largest number of IMF loans have gone to the African Continent.
  9. The U.S. contributes about 20 percent of the total annual IMF Budget. The largest member of the IMF is the U.S. while the smallest member is Tuvalu.
  10. The fiscal year for the IMF begins on May 1 and ends on April 30.
  11. The head of the IMF staff is the Managing Director. The Managing Director also acts as Chairman of the Executive Board and serves a five-year term. The present Managing Director is Christine Lagarde of France. The Executive Board Members monitor the day to day work with the guidance of the International Monetary and Financial Committee.

Studies show that contrary to the criticism of the IMF, it fulfills its functions of promoting exchange rate stability and helping its members correct macroeconomic imbalances.

Aishwarya Bansal

Photo: Flickr

Five of the Top Diseases in Greece
Though often envisioned as an ideal vacation spot, home to thousands of sites, islands and beaches, Greece is not exempt from the list of countries affected by diseases, and it is necessary that travelers be aware of this.

  1. Coronary Heart Disease
    According to WHO, Coronary Heart Disease (CHD) is one of the top diseases in Greece, responsible for 26.17% of the country’s total deaths. Statistically, CHD occurs in men between the ages of 50 to 79, and in women ages 70-79. Controllable factors include arterial hypertension, diabetes, dyslipidemia, obesity, smoking and lack of physical activity. Non-modifiable factors include gender, age and family history of premature CHD.
  2. Stroke
    Falling second in the list of top diseases in Greece, mortality from heart disease and strokes has reached 35,000 deaths per year, which is high compared to other regions like Portugal or Spain. As a result, life expectancy for Greeks has fallen. Statistics showing 33% of adults smoking daily and 19.6% of the population being overweight or obese contribute to the issue.
  3. Malaria
    In 2011, a total of 20 cases of malaria occurred among Greek residents in the Evrotas, Laconia district, caused by the parasite Plasmodium vivax. The following year, 17 additional locally acquired cases were reported. According to the Centers for Disease Control, it is recommended that travelers take an anti-malarial medication and follow insect protection measures to reduce the risk of mosquito bites.
  4. Legionnaires’ disease
    A total of 14 cases of Legionnaires’ disease were reported on the island of Corfu in 2011. Legionnaires’ disease is a bacterial infection that typically causes pneumonia but can also involve other organ systems. The disease is usually transmitted through contaminated water sources, such as air conditioners and showers. Common symptoms include fever, cough, chest pain, difficulty breathing, headache, muscle pains and diarrhea.
  5. West Nile virus
    An outbreak of West Nile virus infections surfaced in 2010, causing 262 confirmed cases and 35 deaths. West Nile virus is carried by Culex mosquitoes. Most infections are mild but can affect the central nervous system, leading to fever, headache, confusion, lethargy, coma and in most serious cases, death. Because there is no treatment for West Nile virus, prevention methods should be taken by keeping cover and applying insect repellents.

For both locals and visitors, such recent outbreaks emphasize the importance of taking safety precautions and preventing further transmission of top diseases in Greece. Since most of these illnesses cannot be cured, undergoing certain treatment methods or making lifestyle changes help with recovery.

Mikaela Frigillana

Photo: Flickr

President Obama's Visit to Greece: Talking Economy and Refugees
As the year comes to a close, President Obama embarks on one last official trip to Europe. One of the stops is Athens, Greece. In his two-day trip, he addresses the future of the country.

President Obama’s visit to Greece sparked a lot of debate about the country’s economic recovery and well as social issues. In the president’s opinion, Greece needs continued debt relief in order to fully stabilize the economy and ensure a prosperous future.

Greece has endured an economic crisis for the past eight years. The crisis began after years of understating the national debt caused the financial markets to deny loan money to the country. By 2010, Greece was moving towards bankruptcy. In order to salvage the economy, Greece received bailouts. As of today, it has been given 274 billion in bailout loans since May 2010. There have also been numerous economic reforms that have caused unrest among the Greek population.

President Obama spoke on the discontent of the Greek people. He argues that other than debt relief, “people need to see hope.” Drawing on the example of Brexit earlier this summer and the recent American election he says, “If people feel that they’re losing control of their future, they will push back.” The “push back” in Greece has been readily present since the beginning of the economic crisis.

The two bailouts given to Greece have come with austerity measures which have been met with anger. The first program included salary cuts of public-sector workers and increase sales tax. The second program increased taxes on certain goods and included pension reforms. As a response, citizens continue to have demonstrations and often clash with law enforcement which has ended in violence.

In anticipation of President Obama’s visit to Greece, a peaceful protest in Athens turned violent when supposed anarchist threw rocks and Molotov cocktails in support of anti-capitalism. “No Hope” was written on buildings.

Nonetheless, President Obama will actively continue to encourage creditors to provide debt relief so Greece can achieve a sustainable economy once again. He also praised Greece for opening up its border to refugees even in the midst of an economic crisis. President Obama said “The Greek people’s generosity towards refugees arriving on your shores has inspired the world. That doesn’t mean that you should be left on your own, and only a truly collective response by Europe and the world can ensure that these desperate people receive the support that they need.”

President Obama’s visit to Greece encouraged continued debt relief to rehabilitate the economy and bring hope to the Greek people.

Karla Umanzor

Photo: Flickr


On June 14, 2016, The Radcliffe Foundation released a statement explaining its partnership with the Greek Ministry of Migration in an initiative aiming to house over 800 Syrian refugees in Thessaloniki in northern Greece. Frank Giustra, founder of The Radcliffe Foundation, worked alongside Amed Khan, an American philanthropist, to create a revolutionary alternative housing option for refugees in Thessaloniki.

Together, with the support of thousands of volunteers, they set out to “rehabilitate an abandoned clothing factory to provide housing for 800 refugees,” many of whom were women and children. According to project manager Mike Zuckerman, the project’s strategy was to “rehabilitate Greece’s abandoned infrastructure to aid in solving both the Economic Crisis and the Refugee Crisis at the same time.”

The facility, dubbed the Elpida Home, opened to families on July 24. Here are five ways the Radcliffe Foundation and the Elpida home are giving hope to refugees in Thessaloniki.

  1. Opening doors to relocated refugees: When the Greek government shut down Idomeni, a makeshift camp in northern Greece, 4,000 refugees were forced to relocate to old warehouses and abandoned factories. The living conditions were dangerously derelict and squalid.
  2. Creating opportunities for collaboration: According to the Radcliffe Foundation, the Elpida Project is a “public-private partnership [intended to] create humane living conditions and allow refugees to participate in the process, giving them a say in their own welfare.” The Radcliffe Foundation worked with NGOs and local volunteer groups to build the refuge.
  3. Inspiring humanity: According to Giustra, “The conditions that refugees face are heartbreaking…our goal in this project is not only to house these people…but equally as important, restore their dignity by treating them as human beings.” Furthermore, according to Khan, “This project will hopefully set the path for others, just like it, that put humanity above all else.”
  4. Meeting electrical, plumbing and dietary needs: The Elpida Home contains both individual housing units and common areas that are equipped with working electricity, running water and plumbing. According to the U.N. Refugee Agency, in other refugee camps around Thessaloniki, “air circulation is poor, and supplies of food, water, toilets, showers and electricity are insufficient.” The overcrowded camps compound “the already high level of distress of refugee families, fueling tensions within refugee populations.” Refugees at The Elpida Home, in contrast, have access to showers, toilets and a children’s play area.
  5. Partnering with medical nonprofits to provide health care: Medecins du Monde is a nonprofit that has sent volunteers to the Elpida Home three days a week to provide psychological care for refugees. The Elpida Home also has a volunteer dental team on staff.

Between the joint efforts of the Greek Ministry of Migration and The Radcliffe Foundation, Syrain refugees inThessaloniki will have a better chance at overcoming the obstacles displacement creates.

Hailey Visscher

 

Refugees in Greece
As thousands of refugees in Greece continue to remain trapped in the country after an agreement closing the borders, American veterans are volunteering again to provide medical care. The agreement between the Turkey and the E.U. went into effect March 20th, leaving refugees already in the country unable to travel back to Turkey or continue on to Europe.

According to the U.N., there are 42,000 refugees located on the mainland of Greece, with another 8,000 spread across the Greek islands. Grouped in crowded camps by Greek officials, the asylum-seekers face overflowing toilets, lack of health care, poor food, violence and open harassment of women.

Many are housed in makeshift shelters in abandoned buildings. Though the country’s borders are officially closed to refugees, many still attempt to flee to Europe, with 3,000 having died or gone missing in attempted water-crossings from Turkey 2016 alone.

Team Rubicon

In response, many non-governmental organizations (NGOs) mobilized to help refugees stranded in Greece. One of them is Team Rubicon: a crisis-response organization founded by two marines in 2010 to provide aid to earthquake-stricken Haitians. Since its inception, the group evolved into an organization capable of deploying response teams around the world.

Now boasting leaders such as retired General Stanley McChrystal on its Board of Directors and retired General David Petraeus on its Board of Advisors, the veterans’ organization is active in all 50 states and around the world. Operating in small teams of current service members, veterans and civilian emergency workers, Team Rubicon deploys to disaster areas that may be difficult for larger organizations to reach.

The Borgen Project had the opportunity to interview Matt Pelak, the International Operations Chief for Team Rubicon who noted that since July, Team Rubicon has provided “primary and emergency medical care to a camp of about 200 at-risk refugees including pregnant women and unaccompanied children.”

The camp, established by the Radcliffe Foundation at a disused textile factory along Greece’s northern border, provides a reprieve from the crowded and dangerous conditions at many refugee sites.

Pelak asserted that Team Rubicon decided to deploy to Greece after assessing and concluding that the economic and emergency response capacity in the country was overwhelmed. The deluge of refugees are fleeing violence in Iraq, Syria, Afghanistan and elsewhere in the Middle East.

The Team Rubicon medical specialists have made efforts to send smaller mobile teams to surrounding camps as well, providing free medical care to the refugees they are able to see.

Though they are coordinating their efforts with a slew of other NGOs and the U.N., Pelak recognized that there are simply too many refugees in Greece for the current medical resources allocated. “The medical care [we provide] can be the first in months or years for many refugees,” he said.

The Struggles of Resettlement

Efforts to resettle the asylum seekers are underway, but so far only about 1,700 have been allowed to officially relocate to E.U. countries willing to take them in. Those that arrived after March 20th are supposed to be sent back to Turkey, but the Greek government has only deported 500 so far.

The refugees in Greece who arrived before the deadline will have to wait until the government can make a ruling on their applications for asylum. Considering the number of refugees and the variety of languages spoken among them, the process may take some time. Talking about the masses stranded in Greece, Pelak urged people around the world to “Support NGOs that provide aid on the ground and strongly consider taking in refugees by pressuring lawmakers.”

Will Sweger

Photo: Flickr

Education in GreeceGreece serves as a new home for hundreds of thousands of displaced Syrian refugees. The country has opened its arms to over 57,000 refugees, over half of them women and children, thus creating a dense population of families within small areas.

Although the Greek government accepts new refugees it has no choice but to place these individuals in camps that, in many cases, do not meet humanitarian standards. The country strives to create a stable environment for these refugees, as it is estimated that the children have been out of school for an average of 1.5 years. This lack of schooling affects their potential as well as depriving them of a basic right to education, therefore education in Greece must be a priority.

With the help of volunteers, children are receiving an education through refugee schools located on campgrounds. Education in Greece, as well as many other countries besides, remains difficult for refugees to obtain.

Understanding the necessity for a learning system, the United Nations recently created a fund called “Education Cannot Wait.”

This fund aims to reach approximately 20 million refugee children who are currently denied a proper education. The European Union used money from this fund to create a pilot program on May 16, in order to begin language courses for the refugee children in Greece. These courses are currently in session to prepare children for the school year that commences in September.

Teachers will be assigned based on the language of the refugee children, which will include English, Greek and their native tongue. The Greek government plans to unveil this education program beginning in September. The Ministry of Education, responsible for running the education in Greece, began language courses beforehand to bridge the language gap that held some children back. The courses will assign two to three teachers to each 150-student classroom.

“The average length of time spent living as a refugee is now 17 years, meaning that millions of children and young people will miss out on some, it not all, of their education, severely diminishing their own future life chances and that of their families and communities,” said Tanya Steele, interim CEO of Save the Children.

Less than two percent of global humanitarian aid goes to education. Education, as the United Nations is realizing, is crucial in the long-term. Without education, studies show that children are at higher risk of crime and violence.

Schools carry the promise of opportunity and aspiration for the future. Education creates a solid foundation for the rebuilding of society for those displaced.

Education in Greece portrays how many other regions are striving to help refugees. Students here, as with many other refugee schools, are only given two days of schooling per week. With the help of the European Union and the United Nations, teachers hope to push for more educational opportunities, including a 5-day school week.

AnnMarie Welser

Photo: Flickr

Poverty in Greece
For the past few years, Greece has required heavy subsidies from the International Monetary Fund (IMF) in conjunction with the European Union (EU) to avoid collapse. However, despite these heavy subsidies, the Greek economy continues to contract, and poverty in Greece is maintaining concerning rates.

The New York Times has compared this crisis to the infamous Great Depression in the United States during the 1930s. When these two timelines of GDP decline are placed in conjunction with the economic descents of the two countries follow the same trajectory.

The single difference between these two scenarios is that after four years the U.S. economy began to progress upward again. Inversely, the Greek economy has maintained constant economic contraction, averaging a negative growth of 25 percent GDP for the last four years.

Since the beginning of the crisis, the IMF and neighboring nations of the EU have poured over €260 billion into the flailing economy and have pledged an additional 86 billion euro to mitigate the extreme poverty that is spreading throughout the country. But even with these efforts, the Greek economy continues to shrink.

The effects of the steadily contracting economy have resulted in over a quarter of the population being unemployed, over 30 percent of the population living below the national poverty line and nearly one-fifth of the adult population not being able to feed their children. Charity organizations are running at full throttle, and some have worried at times if there will be enough food to go around.

The North American economist, Daniel Altman, has observed the fiscal problems that are being faced by Greece and has proposed several unpopular but effective ways in which the economy and reduction of poverty in Greece could make a rebound. He affirms that his prescribed measures would not be easy, but they would be possible to implement.

The first action Altman recommends is to default officially. The trade from Greece has been resulting in very low ingression of profit, and the government debt is continuing to accumulate in the background. Though defaulting on their debt would mean years of frozen access to global markets, it would also stop the progressing debt in the long run.

Secondly, the euro should be eradicated from the Greek economy. As it stands, the government cannot use inflation to its advantage since the euro is a transnational currency. A return to the Greek drachma could necessitate the aforementioned default and an initial scare would be probable, but in the long term, a return to domestic currency would set Greece in a position for economic progression.

In addition to these suggestions are the procedures for tax elevation and a decrease in the public budget. Altman affirms that these are never popular choices, but they are necessary for recovery. Many of these actions are already being imposed as necessary conditions for the reception of bailout funds from the IMF and the EU.

Additionally, an innovative way in which Greece could reduce public debt and put its economy back on track would be through liquidation of land assets. Greece has thousands of islands and large portions of ethnically Turkish, Albanian or Macedonian lands that could be sold.

Altman affirms that neighboring countries would pay large amounts to acquire lands that are largely inhabited by their people, thus alleviating poverty in Greece and putting a dent into the national debt.

Regardless of how this issue is approached, it seems that poverty in Greece is not going to be reduced without any sacrifices.

Preston Rust

Photo: Spiegel

Greek IslandsThe United Nations High Commissioner for Refugees (UNHCR) estimated in a recent warning that nearly 1,000 refugees are arriving on Greek islands each day after crossing the Mediterranean Sea.

The organization has raised concerns that the growing number of migrants due to persistent conflicts in Africa and the Middle East are placing an unprecedented strain on Greece and other European nations.

William Spindler, spokesperson for the Office of the UNHCR, stated in a press briefing last week that “Greece’s volatile economic situation, combined with the increasing numbers of new arrivals, is putting severe strain on small island communities, which lack the basic infrastructure and services to adequately respond to the growing humanitarian needs.”

Officials estimate that at least 75,000 people have arrived on the shores of Greece since the beginning of 2015, with nearly 60 percent of these migrants arriving from Syria. Many other migrants have traveled from other regions afflicted with conflict including Iraq, Afghanistan, Libya, Nigeria and Somalia.

Thanassis Andreotis, president of a small coastal village in Lesvos, states in an interview about the surge in refugees, “Our Island can’t handle that many people coming over. There’s no way to take care of them.” Andreotis noted that due to a lack of governmental assistance, many members of his community have resorted to personally financing the construction of shelters for the migrants.

The UNHCR has stated that level of migrants arriving daily has reached such heights that border authorities and local communities are not capable of handling the “staggering” number of refugees. The majority of the migrants who have arrived in Greece plan to continue traveling north to other Western and Northern European countries via the Balkans region.

The former Yugoslav Republic of Macedonia and Serbia has reported an unprecedented surge in refugees, with at least 45,000 people seeking asylum within the region during the first half of 2015.

Spindler also emphasized while in Geneva that, “an urgent response from Europe is needed before the situation deteriorates further. Tightening borders is not the solution, including the plans of the Hungarian government to build a fence along the Serbian border.”

A human trafficking vessel that departed Turkey filled with refugees from the Middle East reportedly capsized last week in the Mediterranean Sea, killing at least 19 of the some 40 passengers on board. While this was the first major maritime disaster in this region in nearly a month, largely due to increased search-and-rescue-operations conducted by European nations, officials are concerned that the rising number of migrants will result in more deaths on the high seas.

Laura Padoan, a spokeswoman for the UNHCR, stated in response to the disaster and the increase of refugee journeys across the Mediterranean, “It’s just a short distance between Greece and Turkey but it is still very dangerous. What we need are safe legal routes to Europe, so that people don’t die in the process of getting here. Greece is facing a financial crisis and there is now a growing humanitarian crisis – and it can’t be left to Greece to deal with on its own. There needs to be a Europe-wide response.”

James Thornton

Sources: UN 1, UN 2, The Guardian
Photo: UN

Syrian_RefugeesLast week, David Morrissey, actor on “The Walking Dead,” visited Lesvos, Greece with UNHCR and rescued Syrian refugees on a boat that was drifting in the Mediterranean for 10 hours.

According to UNHCR, there are more than 19.5 million people in extreme conditions from war that need help. Currently, with global dislocation at an all-time high, more than 4 million are Syrian refugees.

This year alone, 80,000 Syrian refugees have fled to Greece in hopes of finding safety. Morrissey took part in a rescue system with Greek coast guards who save up to 15 boats a day.

“There is a new Greek tragedy unfolding, and I am deeply shocked by what I have seen and the stories shared with me. The main protagonists of this human drama are Syrian refugees who make up over 60 percent of the arrivals to Greece and are facing incredibly high risk odds to cross the sea from Turkey,” Morrissey said.

Aside from visiting camps and tending to Syrian refugees, the British actor’s response to this crisis was to board coast guard boats and travel across the ocean to search for Syrian refugees to save their lives.

In a video posted by 5 News, Morrissey can be seen on a lifeboat helping crying children aboard. The actor patted their backs and reassured them several times of their safety.
“So, that was pretty intense,” Morrissey said after the rescue. “We got all of these people off the boat. They don’t know how long they’ve been in the water. The children, particularly, are very traumatized by the event.”

Many children, like some that Morrissey rescued, travel to safer countries without the security of their parents. Morrissey spoke to one of these children — a 13-year-old Syrian boy named Mohammed.

For two years, Mohammed has been traveling with a man he refers to as his uncle, Morrissey said. The boy has journeyed to Turkey, Iraq and Greece, where he met Morrissey.

According to Morrissey, Mohammed was very frightened of the future, yet still hopeful. Exiting the boats, many Syrian refugees, like Mohammed, are often welcomed by Greek locals.

Many Greeks offer help to the incoming Syrian refugees in the form of food, water and shelter. One of the volunteers, a woman named Melinda from Molyvos, Greece, said that she speaks to the coast guard daily, so that she can prepare a proper amount of sandwiches for the refugees entering the island. Despite her humanitarian efforts, she and the country are still struggling to cope with this massive influx of people.

“We have the same number of people who arrived here in one year arriving in just one day,” she said. “We are all doing our best, and people’s generosity and support is astounding. But, it is too much to cope with it all at this level.”

Greece’s tourism industry is taking a large hit. At its worst, 50,000 tourists a day were withdrawing vacation rentals to the Greek Isles. The industry is suffering so badly that Greek politicians are trying to spin the refugee crisis as a plus for tourists.

According to the European Union, this crisis will not end soon. As some refugees attempt to flee to wealthier areas, new resources put in place may keep them from leaving the country. Countries like Hungary and Macedonia have made plans to strengthen their borders, so that other countries like Greece are refugees’ only hope.

With fewer and fewer places to escape to safety, Greece’s notoriously beautiful beaches have become littered with life jackets and the remains of rubber dinghies, Morrissey said. The refugee camps, once a safe zone for its occupants, are now in danger of disease, and the toilets were unusable.

Morrissey said he was completely shocked by the conditions that the Syrian refugees must endure because their homeland is not safe anymore. The UNHCR, with the help of Morrissey and many others, offers protection, assistance, emergency response, shelter and durable solutions for this ongoing crisis.

The agency has helped millions of people and continues to create viable answers for people in need. With millions of displaced people, the organization’s aid is needed more than ever. For more information about the UNHCR and how to help, visit unhcr.org.

– Fallon Lineberger

Sources: Breitbart News, Daily Mail, Look to the Stars, The Guardian, UNHCR 1, UNHCR 2, UNHCR 3, YouTube
Photo: Flickr

greek_startups
Young owners of Greek startups are finding their businesses launched onto the international market directly after conception.

With economic degradation and youth unemployment at 50 percent, many are faced with a choice: to join the brain drain and move to Western Europe or to stay home and fight to make a living amongst stagnant mainstay industries such as shipping, olive oil, cheese and tourism. Very few jobs in the traditional sectors are available, and the country has long been resistant to global competition and innovation. With a bailout and increased regulation looming, the Greek economy hardly seems like the ideal ground to plant a business.

And yet, in this backwards business environment, the young entrepreneurial class is making it work. They are calling on Greece’s ancient mercantile roots to foster a host of new companies that are taking the initiative to begin rebuilding the country’s faltering economy. These young workers have taken advantage of the end of regulations, protections, tax breaks and provisions that have sheltered Greek businesses for years and hindered competition and new ventures.

Investors, both Greek and international, have jumped on the bandwagon as well. The Hellenic Initiative, a nonprofit sponsored by Greeks abroad, funds business initiatives including a custom folding bicycle designer, cosmetic safety lab and online fuel auctioning website.

Such companies have received funding from investors in Europe, the U.S. and Australia. Other examples of growing companies are Taxibeat, an Uber-like driving service and Workable, an employment tool that is now used in small and medium-sized companies in 39 countries.

With a large population of well-educated young labor force eager to work and jump into a new sector, workers are relatively inexpensive to employ and exhibit more loyalty to start-ups.

“There is no shortage of really smart kids, driven kids, with a lot of zeal and a lot of drive, a lot of hunger, and a pretty good business plan,” said Jeremy Downward, an investor for Alpheus Advisors.

Although many start-ups remain small and employ fewer than 20 people and can not transform the Greek economy alone, workers stay positive.

“Talking about all the negative aspects of this huge economic depression in this country doesn’t help that much. It helps if you can start building something that makes sense, and makes sense both for business and for society,” said start-up founder, Dimitris G. Kalavros-Gousiou.

Jenny Wheeler

Sources: New York Times, BRW
Photo: New York Times