Themis Temaistoclous (UBS): “Trump forcing Europe to go in the right direction”

With US charges and Donald Trump’s secure policies, Europe faces the unprecedented situationWith the consequences that are difficult to predict, but it can lead to long -term reforms, the Director of the Regional Investment Office for the EMEA of the Global Wealth Management explains to the ‘EuroNuse’ Themistoclius.

“If we face only specific fees in a few fields, for 20%, its impact will be very moderate,” says Lestoklius. “If this useful fee is 1%to 3%, as well as now, 15%-16% This could have an overall impact on the European economy Up to 0.7%-0.8%, “he says.

“We hope this year European GDP grows 1%. But with this extreme scale fees, the growth rate Can be reduced in half. This is not only the purpose of fees, but how long they will be, and what the EU’s reaction will be. ”

Question: There is a lot of debate on how the EU should act. There are supporters of Heart Line, they say they have to respond with equal fees, and on the other hand, most companies ask for a moderate to act moderate. What do you think?

Dilmistocles: The European Commission has said that Similarly to respond y Has already done with steel and aluminum. But I believe that the risk is an eye to an eye, and then all of this goes further. If we go on that path, I think there will be a point that both parties will be suspended and beginning to negotiate. But it can even make some people Damage to the economyBecause it is very difficult for companies to deal with that uncertainty. So they will invest less and they will do less things, which will have an impact on the economy.

Europe has Slightly difficult situation. If we look at Canada and Mexico, There was a notification of fees.

With Europe, I do not think that we have the same ability to retreat at the level of aggressive fees. China will be in a better position to negotiate fees and reach an agreement faster than Europe. That is, in terms of Europe, fees can be maintained for a long time.

As for the impact of small countries, if you do not have direct exposure to the United States, its impact is not direct, But indirect. This is the impact you have to deal with through your business partners. If you trade with Europe, Germany, Italy and France, then if economic activities are diminished, it will affect you.

For example, the Travel in Greece: Many tourists come from the EU. If the European Union economy grows low, there will be fewer tourists in Greece. Direct foreign investment will also be affected.

Question: The European Union has also responded to the announcement of investments in technology and safety. Do you share the hope that they will increase the growth of the European economy?

Dilmistocles: “This is the other interesting novelty of Europe. We clearly talk about fees They may have a negative short -term impact In the economy. What we are talking about now is Europe’s reaction to the first US foreign policy. The European Commission has announced some control measures. For me, if they do so, a big step in the right direction. One of the problems we face in Europe is, as we know, Excessive regulation. It concludes novelty and business feeling. And If we further regulate, I think it is one of the obstacles to European growth.

Question: So do you think the Trump administration is forcing Europe to go in the right direction?

Dilmistocles: Of course. We know the problem that only responds to the Europe crisis. I would say that what’s going on would be favorable to Europe for a long time. This is a wise belief. Before he talks about some European countries who already say, “If we respond to fees, please, if we raise agricultural products, please.

The fact that 27 countries are trying to acknowledge how to respond to fees prevents things. It Challenge to face Europe. I believe this is a great shock To move Europe in the right direction. Early signals are encouraging.

Question: Is it true that investors leave the US market and address Europe? Can Greece become an attractive place for these investors?

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Dilmistocles: Countries like Greece They have benefited This interest in European assets is clearly. For example, in a variable income or steady income, they have been reviewed just like classes of European assets. So it becomes clear Greek also benefits.