Greek PM Plays Up Opportunities, Investment Grade During London ‘Roadway’

Greek Prime Minister Kyriakos Mitsotakis played up investment prospects in the country during his appearance at a “roadshow” in London on Monday, organized by the Hellenic Exchanges SA and Morgan Stanley for major investors.

He reminded that during last year’s “roadshow” in the British capital he said the restoration of the country’s investment grade rating was a top priority, something that materialized with a most recent upgrade by S&P – with similar upgrades in the near future expected from other ratings firms.

Mitsotakis said his government remains committed to pushing forth reforms and guaranteeing fiscal stability, while adding that attracting FDIs is a cornerstone of what he called “Greece’s success”.

Touching on growth, Mitsotakis referred to its qualitative characteristics, “…is it friendly to investments, or is growth based on domestic consumption? Is it viable, socially just? Does it touch on issues of inequality? Does it guarantee a true alignment in salaries with the rest of Europe?”

He also cited a most recent draft bill tabled in Parliament and aimed to curb the specter of tax evasion and avoidance, especially by self-employed professionals and craftsmen. If successful, he said, the new framework would mean an additional 500 million euros for state coffers on an annual basis.

In brandishing his center-right government’s liberal credentials, he pointed to a slashed corporate tax, an easier framework for raising capital from markets and streamlined state regulations.

Next up, as he said, is improving salaries in the east Mediterranean country as competitiveness rises commensurately.

“At the end of the day, building confidence is the key to facing off populism, which seems to be on the rise in many European countries,” he stressed.

Source: tovima.com