Business News
Greek minister: Country will return to growth in five years
Feb 16, 2012, 12:22 GMT
Frankfurt - Greece's development minister, Michalis Chrysochoidis, has told a German audience he expects his nation's economy to return to growth within five years.
'We are trying very hard to change the country, to reform, to renew,' he told an audience of reporters Wednesday evening in Frankfurt. 'The difficulty is, we have a liquidity problem. Banks have cut off their credit lines to enterprises.'
Explaining his five-year forecast, he said: 'Critics all over Europe claim we are not reforming. That's not true.'
Chrysochoidis has been canvassing business leaders for investment in Greece.
He said an 'Invest in Greece' agency in Athens promised foreign investors it could obtain for them all the permits they needed within four months.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
