President François Hollande called for investment in Greece, seeking to promote growth in the first visit of a French leader to Athens since the euro debt crisis began there more than three years ago.
The visit contrasted with that of German Chancellor Angela Merkel in October for the absence of protests against austerity imposed in return for European bailouts. As the region’s two largest economies, Germany and France are the biggest contributors to the two rescues for Greece since April 2010.
Greece’s economy, which has lost a fifth of its output since 2008, is in the sixth year of a recession after pensions and wages were cut and taxes raised to avert financial collapse. A turnaround could appear on a monthly or quarterly basis toward the end of this year, according to Finance Minister Yannis Stournaras.
“I want to mobilise investment in Greece”, Hollande said. “It’s in the interest of Greece and it’s in the interest of France.” France will assist Greece in finding natural gas deposits if it can, he added. “This is an opportunity for France and for Europe”, Hollande said.
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