September 19, 2011
The economic crisis in Greece is taking a heavy toll on local companies, steeply reducing demand for highly qualified executives.
Large companies are downsizing, while the small and medium-sized businesses that dominate the private sector are struggling to survive.
Yet the handful of Greek business schools, which have a combined annual intake of 800-900 students for MBA programmes, are proving surprisingly resilient. One reason is that more young Greeks are opting for a domestic institution, given circumstances at home and the cost of studying in the UK, the most popular MBA destination.
Another reason is that legislation to prise open the Greek state’s formal monopoly of higher education is making its way through parliament. According to Anna Diamantopoulou, the education minister, the law – due to be approved this month – will allow sponsors from the private sector to fund graduate programmes at state universities.
“We are opening up the universities to the private sector – they will be able to co-operate with individual companies and accept sponsorship and donations,” she says.
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