France ready to invest in Greece again: French president says ahead of Athens visit

Source:Xinhua Published: 2013-2-19 8:56:59

France is ready to invest in Greece again since the confidence in the prospects of the Greek economy has been restored, French President Francois Hollande said on Monday ahead of his visit to Athens on Tuesday.

"I have no doubt that French businesses are ready to invest in Greece again, since confidence has been restored ...," Hollande said in an interview with the local "Ta Nea" (The News) daily.

He appeared certain that French firms will take part in the ongoing Greek privatization program and will seek further investment opportunities in the country.

Hollande's visit to Greece is seen by political analysts in Athens as a show of support to the debt-laden country's painful efforts to overcome the financial crisis which started three years ago.

During his first visit to Greece as French president, Hollande is expected to send a message to investors that the country is on the right track of fiscal consolidation and return to growth.

"The sacrifices which have been requested from Greece have been harsher compared to the sacrifices imposed on other countries. Fiscal consolidation is necessary, but not enough. Measures to fuel development are also needed," he told "Ta Nea."

Europe needs to "win the wager of growth again" in order to address the rise of extreme forces and political-linked violence, he added.

After two years of tough austerity policies aiming to slash deficits, Greece has moved back from the brink of default and exit from the eurozone.

However the rounds of cuts on salaries, pensions and tax increases have fuelled unemployment and recession, adding a heavy burden on the shoulders of the average Greek citizen.

At the moment, the Greek government, as well as European Union (EU) and International Monetary Fund (IMF) lenders who support the country with multi-billion euro aid since 2010 in exchange of the implementation of the painful measures, focus on the necessity of structural reforms and policies to boost development.

Next week a delegation of EU/IMF auditors will return to Athens to evaluate the progress made over the past few months and clear the way for the release of the next tranche of bailout financing to Greece.

Posted in: Europe

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