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Athens Macedonian News Agency: News in English, 16-04-27

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] EIB committed to contribute in the recovery of Greek economy, Jennett says
  • [02] A debt haircut is inevitable, former Die Linke leader Lafontaine tells ANA-MPA

  • [01] EIB committed to contribute in the recovery of Greek economy, Jennett says

    European Investment Bank (EIB) is determined and committed to contribute in the recovery of the Greek economy both through funding public and private sector projects and through offering consultancy services, Nicholas Jennett, head of Investment Team Greece and deputy managing director of EBI said on Wednesday.

    Speaking to ANA-MPA, Jennett said: "We enhance our presence in Greece, we are here to finance Greek business activity, business ideas with a perspective that will contribute in the recovery of the Greek economy and create permanent job positions".

    "We do not have a ceiling on total funding to Greece, specially after the activation of the Juncker investment plan. As a bank we invite private businessmen seeking funds for their investment plans to knock on our door and to cooperate. Total funds for 2016 will depend exclusively on demand for funding by the private and public sectors in Greece," the banker said.

    He noted that EIB has no limitations or priorities on which business sectors it planned to finance. "In any sector, contributing in the development of the country, such as energy, tourism, food industry, technology and innovation and in general sectors related with export activity and create sustainable job positions are open to financing," Jennett said.

    "Our goals is to finance not to reject funding requests," Jennett said, adding that emphasis will be given to finance investment plans located not only in Athens and Thessaloniki but in regional Greece as well.

    "Greece has a very high quality human resource, part of which left the country because of the crisis and the aim is to bringing it back with growth," he said.

    Jennett said that EIB will respond to all funding requests, even those outside its jurisdiction, offering direction.

    EIB plans to further strengthen its cooperation with Greek systemic banks, particularly on funding of SMEs which are not directly funded by EIB.

    European Investment Bank has offered more than 12 billion euros to Greece since 2008, in the form of loans and guarantees, of which 1.4 billion euros in 2015.

    [02] A debt haircut is inevitable, former Die Linke leader Lafontaine tells ANA-MPA

    A debt haircut is inevitable because Greece will never be able to pay its debt, former Die Linke leader and German Finance Minister Oskar Lafontaine said in an interview with ANA-MPA.

    "The issue of debt haircut should be negotiated with the creditors," he underlined.

    "This haircut should be properly made so that the economy grows and Greece can serve its debt," he explained and added: "However, only a haircut will not be enough."

    Lafontaine estimated that the austerity policy has failed and Europe risks to collapse mainly because of the Monetary Union's wrong planning.

    The former Finance Minister said that Greece needs to return to the existing European Monetary System (EMS) adding that Denmark also participates in the EMS.

    The European Monetary System allows revaluations and devaluations and obliges the European Central Bank to intervene if there is a high depreciation or revaluation of a currency. "I am convinced that this way the Greek economy would slowly recover."

    The full interview of Oskar Lafontaine is available at ANA-MPA website.


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