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.”

Advertisement

Share:

KEEP UP TO DATE WITH TGH

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

Advertisement

Latest News

AHEPA NSW marks 90 year anniversary with grand celebration

AHEPA NSW Inc marked its 90th anniversary with a splendid luncheon at Novotel Brighton-Le-Sands in Sydney on Sunday, May 26.

GOCSA’s new Neoléa initiative host Ikarian-inspired inaugural event

On May 26, the Greek Orthodox Community of South Australia (GOCSA) launched their new initiative known as “Neoléa.”

St George College in Adelaide officially opens the Kalimera Cafe

St George College in Adelaide, South Australia officially opened its new Kalimera Cafe on Friday, May 24. Read more here.

Unley High School gets creative to incentivise Greek language and cultural learning

Unley High School has looked into ways it can incentivise Greek language learning with a focus on real-world learning experiences.

Optometry Australia welcomes Jenny Mikakos to national board

Optometry Australia has welcomed the Hon. Jenny Mikakos to its national board in the role of Co-opted Director.

You May Also Like

Maria Sakkari overpowers Garcia at Indian Wells

Maria Sakkari has beaten France's Caroline Garcia in straight-sets, 6-3, 6-4, to secure her spot in the next round of the BNP Paribas Open.

Greece, Israel and Cyprus affirm alliance based on shared values

The foreign ministers of Cyprus, Greece and Israel have affirmed in Jerusalem their countries’ close ties, based on shared values.

Charing Cross Streetscape upgrade aims to transform Waverley’s oldest suburb

Paula Masselos, held a community session in Charing Cross to discuss the Council’s proposed upgrade of Waverley’s oldest village centre.