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September 2016

Greece hosts conference on security and stability

Published: Friday 09 September 2016

A timely Greek conference on security and stability

Greece hosts its first Conference for Security and Stability in Rhodes on 8th and 9th September 2016, with a press conference scheduled for 11:00 am local time on convene a number of foreign ministers and senior state officials from across the EU, Africa and the Middle East, including Italy, Cyprus, Bulgaria, Albania, Slovakia, Egypt, the United Arab Emirates, Libya, Tunisia and Lebanon.

The aim of the Rhodes Conference is to discuss potential collaboration and mutual management of a number of international and Mediterranean-focused challenges, such as tackling terrorism, the migration and refugee crisis, in addition to ways of working together on economic, infrastructure, cultural and education matters.
While hosted by the Finance Minister, there has been speculation that the Greek Premier, Alexis Tsipras, wishes to build an alliance of southern Eurozone countries in opposition to the austerity measures put in place by European Union (EU) policymakers. If this is the case, he has made a bold statement in calling this meeting – convened at the same time as other key meetings about the future of the Eurozone, including the Eurogroup meeting, scheduled to discuss Greece’s progress on its key financial assistance programme milestones, and the informal meeting of economic and financial affairs ministers (Informal ECOFIN), which plans to discuss the economic future and policy direction of the EU, taking into consideration key challenges and risks such as the impending Brexit, migration, and security. There then follows the Bratislava Summit, hosted by the European Council (EC) under the Slovakian Presidency, which aims to discuss the potential implications of the UK leaving the EU on the other 27 members of the bloc.

Drawing clear parallels with the global financial crisis, the Greek crisis of recent years and the new challenge in the shape of the UK leaving the EU, the Informal ECOFIN meeting’s host, Minister for Finance, Peter Kažimír, noted that the purpose of the meeting was to, “…draw a lesson from previous mistakes and gradually design tools enabling us to avoid or at least to mitigate possible future crises.”

The meeting in Rhodes looks set to cover similar subject matter, potentially from a quite different angle. www.halofinancial.com
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