Athens, 02/04/2014 (Agence Europe) - On Wednesday 2 April, German Finance Minister Wolfgang Schäuble said that bilaterally as well as in the Eurogroup, Europe had “occupied ourselves with and pushed hard for making the improvement of growth conditions in Greece increasingly the focus of efforts”. Green shoots of economy are now starting to be seen in the Greek economy.
“We are in talks with the Greek government that we, together with the Eurogroup, bundle the different measures to improve growth conditions in an action plan” explained the German minister.
Greek Finance Minister Yannis Stournaras says that German bank KfW will help set up a private investment fund known as the 'institute for growth in Greece' and France will be involved too, but did not specify in what way. The investment fund will work to help provide financing for small Greek companies.
The German chancellor is expected in Athens on 11 April, according to Greek media reports. In an interview with the Greek prime minister, Antonis Samaras, on Tuesday 1 April, Schäuble sent positive signals about Germany's assessment of the work undertaken in Greece.
Commenting on the prospects of the country returning to the money markets unaided, Stournaras said initially there would be “a small issuance of bonds, three- or five-year bonds, in the first semester of 2014, will also contribute to the financing needs of Greece”, he said on Tuesday.
Schäuble said on Wednesday that the eurozone was prepared to provide support as long as Greece sticks to its commitments. “If there is a need, one will help; if there is no need, then it's also fine”, he said. (EL)