Year 2000: The Greek Experience

By Kevin Oates, in Piraeus

Being Greek and going public
We have said it before and we will say it again, being Greek and being a public company do not always go hand in hand. Greek shipowners are very private people. They do not like others prying into their private affairs – especially their bank accounts – and they do not want others interfering with the running of their business. On the whole, decision – making is centralised at the top and other managers within the company are delegated lesser or greater authority. Some Greek shipowners are fabulously wealthy individually but their shipping companies suffer like any other in a depressed market. Sometimes when the cash flow is insufficient to pay obligations in full, the bank is visited and a restructure is requested.

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