The challenges, as well as the opportunities, arising from international developments at the geopolitical, diplomatic, economic, and social levels, including the health sector, were highlighted at the 3rd SFEE Summit, organized by the Hellenic Association of Pharmaceutical Companies (SFEE) under the title “Greece at a Crossroads: Choosing Innovation to Strengthen Competitiveness in a Changing World,” at the Athens Concert Hall.
In a discussion featuring the General Director of the Foundation for Economic and Industrial Research (IOBE) and Professor at the Athens University of Economics and Business, Mr. Nikos Vettas, and the Director of the ACG Institute of Global Affairs, Mr. Konstantinos Filis, the current international environment was outlined—an environment undergoing transformation at all levels, from the balances between states and institutions and Europe’s position to demographic developments.
Mr. Vettas highlighted the profound changes taking place in the international economic environment, noting that Europe is gradually losing competitiveness compared to other regions of the world. As he emphasized, these challenges are linked to the production model, Europe’s position in the global economy, and developments in the labor force. Regarding Greece, he noted that convergence with Europe remains important; however, the country must also keep pace with the rapid developments unfolding on a global scale.
He placed particular emphasis on digital transformation and the new competitive conditions created by technology. “The digital world has changed the rules of competition. The best takes it all,” he said characteristically.
In this context, he emphasized that the healthcare sector cannot develop without meaningful integration with digital technologies and data, noting that, despite the significant strides that have been made, there is still considerable room for progress.
Referring to investment and financing, he noted that the global economy has demonstrated remarkable resilience in the face of successive crises. However, Europe continues to face an investment deficit.
At the same time, he stressed that monetary policy alone cannot resolve the economy’s structural challenges, underscoring the need for long-term strategies that will boost productivity and innovation. Specifically regarding Greece, he noted that there are significant opportunities for better strategic integration of the economy, technology, and health policy. “Many steps have been taken, but more are needed,” he emphasized.
For his part, Mr. Filis noted that the world is at one of the most critical geopolitical turning points of the post-war period. As he explained, the changes observed in the international system are not temporary phenomena, but reflect deeper trends of transformation.
According to him, the current international environment simultaneously creates new opportunities and risks, making it necessary to develop strategic thinking and resilience. “We are in a phase of transition that, on the one hand, offers opportunities, but also entails risks,” he emphasized.
Mr. Filis also noted that Greece has significant room for improvement in the areas of resilience and strategic planning, highlighting the need for an effective state mechanism to coordinate policies and actions while maintaining a stable and predictable regulatory role.
In this context, he characterized the pharmaceutical sector as an industry with significant comparative advantages for the country, one that can contribute substantially to both economic growth and the country’s international presence.
He made special mention of the demographic issue, which he characterized as a major challenge with significant implications for the economy, social cohesion, and health systems. As he emphasized, combined with the climate crisis, social and economic inequalities, declining trust in institutions, and shifting geopolitical balances, the demographic issue will be one of the greatest challenges of the coming decades.
In closing, he noted that traditional institutions often fail to respond to new circumstances. In this environment, he assessed that “coalitions of the willing” and flexible partnerships among states with shared interests and goals will be strengthened, while Europe will continue to operate at different speeds.
Finally, he emphasized the need for Greece to strengthen its partnerships in its wider neighborhood and prepare for an environment in which international challenges will remain intense.