On the grounds of the Hellenic American College “Dialogue for Development” series, an event was held on March 27th at the Hellenic American Union headquarters concerning “Prospects for the Greek economy and the role of social security”.

The participants in this event, in which proposals for the reformation of social security and public health were presented, were: Miltiades Nektarios (Professor in the Department of Statistics and Insurance Science in the University of Piraeus), Athanasios Papandropoulos (Journalist and Executive Chairman in the Greek department in the Association of European Journalists), Plato Tinios (Assistant Professor in the Department of Statistics and Insurance Science in the University of Piraeus), and Markos Fragkoulopoulos (Deputy Chief Executive of Marketing and Sales for Interamerican). Leonidas Foivos Koskos, President of the Hellenic American University, was the coordinator of the event.

During this discussion, Alexander Skouras, presented in his speech the virtues of the funded system, citing data on how this system succeeded in countries such as Chile. Moreover, he stressed the fact that even the partial introduction of a funded system turns citizens from pure beneficiaries of state benefits, such as pensions, to shareholders in the national economy. This way, citizens are given additional incentives to encourage policies that aim for economic growth and progress, as their retirement benefits are directly linked to the course of GDP. Thus, the insured and pensioners are essentially converted from bondholders to shareholders.

We point out that KEFiM is cooperating with Miltiades Nektarios and Plato Tinios for the chapters of the Agenda 2021 for Freedom and Prosperity that regard reforms in health and insurance.