Bloomberg: Athens turns the page and returns to normalcy

It was one of the “hot” days of 2010 when a stray bullet hit the office window of Yannis Stournaras in the sixth floor of the Greek Parliament breaking the window into ​​pieces.

“I changed the window because I decided this era has ended,” said Finance Minister in an interview.

With this vivid picture Bloomberg starts its extensive report for the city of Athens and the tremendous efforts made ​​by the city to turn the page, five years after the outbreak of the worst crisis in modern history.

The mayor of the capital George Kaminis, who was born in New York, mentions  that he is trying to find a path to guide Athens back to normality. Athens was declared the least attractive city to live in Western Europe in 2010, according to the ranking published by U.S. research firm Mercer.

The unemployment rate shot up to 28% last year, whereas homeless rate increased by 25 % from 2009 to 2011 and the vacancy rate for shop in the city center was 32 % until last March. 

This image must change and this is a common assumption of those who expect the arrival of tourists who will give a breath to the economy. “Investment opportunities in Athens center must be in tourism and perhaps a few service industries,” said Constantine Michalos, head of the Athens Chamber of Commerce and Industry. 

There have been some improvements which are very important, such as the new Acropolis museum, the optimization of shipping transports in the port of Piraeus, while various projects are under progress in order to make the city more beautiful and more functional. Such a project is “Rethink Athens” funded by 92 million euros from the EU aiming at connecting the Syntagma square with Omonia square, while trams will also connect the Acropolis Museum and the National Archaeological Museum.

Also the article refers to the privatizations occurred, such as the renovation of the Elliniko by Lamda Development, the sale of Astir Palace in Vouliagmeni and the construction of National Opera and National Library by Stavros Niarchos Foundation in Delta Falirou.

“We don’t expect miracles, but each step is progress for the city,” said Ioannis Trohopoulos, managing director of the Stavros Niarchos Foundation.

However, as it was stated in Bloomberg, the only thing that will never change in this city is the favorite habit of Greeks to enjoy their coffee despite the crisis.