Thursday, May 9, 2013

Investments become Greece's government's key goal!

According to this article from the Ekathimerini, PM Samaras has underlined that there is a 'changing mood by attracting investments to Greece'. Could it be that they are finally on to the real thing?

I have written ad nauseum that there are, in the final analysis, only 3 solutions for the Greek economy: foreign investment, foreign investment and, again, foreign investment. The economy needs financial stimuli from abroad in order to employ its people and it is simply hoping too much if one hopes that such financial stimuli will continue to come in the form of voluntary foreign loans. Thus, foreign investment is the key ingredient both from a Balance of Payments standpoint as well as, and probably even more importantly, from the standpoint of attracting foreign know-how in all areas.

One has already seen what a 'right' foreign investment can lead to in the case of Cosco (expected to contribute 2,5% to GDP by 2018). Greece needs a whole avalanche of such 'right' foreign investments!

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