Staikouras: Investors expressed or even confirmed their interest in Greece

A series of trips abroad, in which the confidence of partners, institutions, investors and financial organizations in the positive course and the auspicious prospects of the Greek economy – despite the multi-level exogenous difficulties – was confirmed by the Minister of Finance Mr. Christos Staikouras in the last 9 days , as stated in a relevant announcement by the Ministry of Finance.

During these days, Mr. Staikouras represented our country at Eurogroup and Ecofin meetings, took part, as a speaker, in international conferences and Fora and held meetings with representatives of investment and banking groups, who expressed and/or confirmed their investment interest in Greece.

In particular, on Monday, December 5, the Minister of Finance went to Brussels, where he participated in the Eurogroup meeting, in which a landmark decision was taken for Greece.

A decision that rewards the intensive and systematic work of society and the state, through the activation of the latest measures to alleviate the Greek debt.

Measures totaling €6 billion, including:

(a) the release of the eighth and final installment from the profits of the European central banks from the purchase of Greek bonds (the so-called ANFA/SMP),

(b) the nullification, for the 2nd half of 2022, of the additional margin (step-up margin), the integration of which is foreseen in the loan rate granted by the EFSF to Greece, and

(c) the permanent nullification – for the first time – of this margin, from 2023 onwards.

This decision of the Eurogroup was characterized as “historic”, both by the president of the Eurogroup, Mr. Paschal Donohoe, and by the executive director of the European Stability Mechanism (ESM), Mr. Pierre Gramegna, while for “a very important result and excellent news for Greece, the Greek people and the Greek authorities” said the Commissioner for Economy Mr. Paolo Gentiloni.

The next day, Tuesday, December 6Mr. Staikouras participated in the Ecofin meeting, during which the Commission’s proposals for the revision of the European Economic Governance Framework were presented.

In his position on the issue, the Minister of Finance pointed out that the specific proposals are a good basis for further discussion, stressing that there are some areas that need improvement.

Afterwards, Mr. Staikouras went to New York, where from Wednesday 7 to Friday 9 December he held a series of meetings with representatives of investment and banking groups, such as Axia, Citi, Goldman Sachs, Nomura, Paulson & Co., Bank of New York Mellon, Buffalo Thorn Capital Management LLC, Lord Abbett & Co.

In addition, the Thursday, December 8 the Minister of Finance gave an interview to the Bloomberg television network, in which he referred to the very important progress of Greece in the fields of fiscal sizes, investments, employment and reforms, while pointing out that our country is close to reaching investment grade.

The same dayMr. Staikouras attended the Closing Bell Ceremony of the New York Stock Exchange (NYSE), where Greece was the honored country.

Her Friday, December 9 the Minister of Finance presented, from the floor of the annual Capital Link Investment Conference, entitled “24th Annual Capital Link Invest in Greece Forum”, the achievements of the Greek economy, stressing that the Government has succeeded in strengthening the resilience of our economy in a particularly difficult moment, and analyzed the central axes and objectives of the economic policy.

The Saturday, December 10 Mr. Staikouras traveled to London, where he was the keynote speaker at the Hellenic Bankers Association UK’s 28th Annual Christmas Gala, which was attended by more than 350 distinguished guests from the financial, banking and legal sectors.

Finally, yesterday Tuesday, December 13the Minister of Finance went to Paris, where he was a speaker at the official opening of the Forum of the Greek-French Chamber of Commerce and Industry “Greece-France Cooperation 2.0: Investing in the future”.

During his speech, after referring to the close relations between the two countries, he presented the current state of the Greek economy, its positive prospects, despite the increased risks, and the policies to support society – mainly, those in greater need – as well as economic development.

RES-EMP

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