France backs Greece’s request for post-bailout investment drive

·

French Finance Minister Bruno Le Maire said his government is backing Greece’s request to make emergency spending on the migrant crisis exempt from official fiscal calculations.

He also pledged Tuesday to help boost investment by French firms in energy and defense ventures in Greece.

“Greece is clearly on the right (path) and that’s good news for everybody,” Le Maire said after talks in Athens with his Greek counterpart, Christos Staikouras.

Greece emerged from eight years of international bailouts in 2018 and is scrambling to rebuild public services, its military, and major infrastructure projects after years of funding cuts.

Le Maire, whose country is credited with helping keep Greece in the 19-country eurozone during the crisis years, said France and keen to invest.

“There is cooperation and friendship — a friendship between the heads of state, at the level of ministers, and there is a friendship between out peoples,” Le Maire said.

Greece wants to redirect returned bond profits from European central banks to public investment programs and wants to make 280 million euros ($305 million) in emergency spending on the migrant crisis exempt from calculations for budget targets set by bailout lenders. Le Maire said he backed both requests.

His visit came a day after France’s minister of defense, Florence Parly, visited Athens and said the two countries were on track to finalizing a major defense cooperation agreement in June — involving an increased number of joint exercises in the Aegean Sea and assistance in upgrading French-made military equipment, including fighters, helicopters, and navy frigates.

Greece, wary of neighbour Turkey over oil-and-gas drilling rights in the region, recently concluded a similar agreement with the United States.

In unusually blunt remarks, Parly accused Turkey of “calling the stability and security of the region into question.”

greek film festival sydney new

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

The Greek Herald finalists lead the way in 2025 Greek International Women Awards

The Greek Herald’s own Dimitra Skalkos and Andriana Simos are finalists in the 2025 Greek International Women Awards.

Football Victoria honours South Melbourne FC legend Michalis Mandalis

The new Football Victoria Chair Angela Williams paid tribute to former footballer and long-time South Melbourne FC legend Michalis Mandalis.

Greek Orthodox community in Liverpool raises $20,000 for McGrath Foundation

The spirit of faith, community and compassion was on full display at the “Splash of Pink” charity afternoon tea.

WWII-era rifle used in Croydon Park shooting sparks firearm law debate

A WWII-era M1 Carbine rifle has become the focus of investigations into the Croydon Park shooting. Read more here.

PASOK intensifies pressure for reopening of GNTO Office in Melbourne

Pressure on Greece's Ministry of Tourism to reopen the Greek National Tourism Organisation (GNTO) Office in Melbourne is intensifying.

You May Also Like

Man arrested after fatal daylight stabbing in Marrickville of Greek Australian dad

John Lambros walked up to an acquaintance on a street in Sydney’s inner west and killed him by stabbing him multiple times in the torso.

US Secretary of State talks defence, Turkey with Greece’s Foreign Minister

Greece's Foreign Minister, Nikos Dendias, talked with US Secretary of State, Antony Blinken, on defence and relations with Turkey.

The Governor Olive Oil: Tradition, innovation, and science

Corfu has a deep-rooted olive oil tradition, but in 2010 its oil had the worst reputation in Greece, and production was about to stop.