Prime Minister Alexis Tsipras presented the prospects of Greek economy and the strategic planning to fulfill them while addressing the delegates of the 17th Annual Capital Link Forum in New York via a televised message.
“We negotiated hard asking for true reforms that enhance growth and do not shrink our economy’s potential. We achieved a compromising agreement that contains for the first time lower fiscal targets, more European investment funds and a clear commitment for debt relief. Those three factors combined are a crucial stepping stones to restart our economy and tackle the huge unemployment which threatens our social cohesion” he said.
He referred to a series of drastic reforms and changes being implemented aiming to create a stable and investment-friendly environment.
“We put together an anti-bureaucratic legal and operational framework for investments, we enact radical public administration reforms combating corruption and favoring meritocracy and evaluation. We create synergies between the public and the private sector. We take measures to reform our judicial system, we upgrade and modernize bankruptcy law” he said.
Mr. Tsipras also referred to the bank recapitalization and said that GDP will return to positive growth rates.
“Within a challenging international environment, we managed to recapitalize the systemic banks mainly by attracting private investors. Their response is a rewards for our efforts and the message that we are on track with respect to our commitments”.
The Greek GDP is expected to return to positive growth rates in the second half of 2016. Meanwhile, the impending lifting of waiver and the expected integration of Greek bonds by the ECB into QE in 2016 will give us the stimulus to get back in the capital markets again. We are optimistic that we will succeed and will achieve access to the capital markets for both the public and the private sector.”
The Prime Minister also referred to Greece’s geostrategic position which elevates the country to energy and logistics transit hub and to tourism industry .
“The geostrategic position of Greece elevates us to energy and logistics transit hub. In energy, developments such as pipelines, gas and green energy are expected to attract high quality investments. Logistic and infrastructure projects are important for Greece and a series of public sector infrastructure investments will start immediately. Funding opportunities for public and private investments through the so-called Juncker Plan do exist but we are also open to attracting new investment capital. Tourism has been developing for three years in a row establishing Greece as a top quality tourist destination worldwide. The upgrading of existing infrastructure and urban planning open the opportunity for new investments in luxury, medical and other alternative forms of tourism. The world dominance of the Greek owned fleet is a clear proof of what the Greek people are capable to do if they find the necessary means and invest in their skills”.
“While we recognize our weaknesses, we try to transform them into strengths and opportunities. We exploit our comparative advantages. So we are inviting you to trust Greece. We invite you to trust us” concluded Mr. Tsipras.