Greek economy will return to growth in 5 years - minister

PanARMENIAN.Net - Greece's development minister, Michalis Chrysochoidis, has told a German audience he expects his nation's economy to return to growth within five years, M&C reported, citing DPA.

“We are trying very hard to change the country, to reform, to renew,” he told an audience of reporters in Frankfurt. “The difficulty is, we have a liquidity problem. Banks have cut off their credit lines to enterprises.”

Explaining his five-year forecast, he said: “Critics all over Europe claim we are not reforming. That's not true.”

Chrysochoidis has been canvassing business leaders for investment in Greece.

He said an “Invest in Greece” agency in Athens promised foreign investors it could obtain for them all the permits they needed within four months.