TNBiz (TNBiz)
Finance  |  October 07, 2011 16:45:05

Greece and Germany concluded an agreement on investment promotion in the Greek economy


ATHENS (MEDIAFAX) - Greece and Germany concluded an agreement on investment promotion in the Greek debt crisis-ridden economy. Informed on Friday by Reuters.

German Economy Minister Philipp Rösler is a two-day visit to Greece in the 70-member-led government and business delegation. Rösler and the Greek Minister for Regional Development, Michalis Chrysochoidis agreement marked a crucial step in efforts to revive the indebted country's economy.

"The aim of this visit is to get the German investments in Greece in order to improve competitiveness in Greece," said Roesler, according to Reuters. "It seems that after all there is life after debt," said Chrysohoidis.

Arranged by German entrepreneurs in Greece Rösler investment worth 2.5 billion euros (almost 62 billion CZK) and are interested in further investments in the sum of 1.5 billion euros.Investments should support the Greek economy is in deep recession and this year it is expected a fall of 5.5 percent.

Germany has an interest in Greece by investing in infrastructure and in particular the construction of solar power plants. From them, the Germans promised help with the supply of electricity at a time when Germany could be the forced shut down its nuclear power plants feel their lack.

"The stronger must help the weak, especially in difficult times," said the German minister. "But it must be based on economic rationality and financial prudence," he added Rösler.

Tomáš Králíček, kralicek@mediafax.cz

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