Greece minister begins European roadshow to woo investors

15th September 2010, Comments 0 comments

Greek Finance Minister George Papaconstantinou began here Wednesday a European roadshow aimed at wooing back bond investors as the country struggles to rebuild its battered economy and finances.

Papaconstantinou kick-started a three-day tour in London that will also see him visit Paris on Thursday and Frankfurt on Friday. He is accompanied on the roadshow by officials from the European Union and International Monetary Fund.

The minister will hold "numerous meetings with investors" in London, said a spokesperson without providing further details. He is expected to hold talks with French Economy Minister Christine Lagarde in Paris.

Athens is trying to regain investor confidence on the bond markets after its narrow rescue from default in May when the EU and IMF put together a 110-billion-euro (140-billion-dollar) three-year rescue package.

A draconian austerity drive of wage and pension cuts applauded by the EU and IMF appears to have borne fruit despite protests and Greece now favours a full return to the bond markets for funding with longer-term debt next year.

© 2010 AFP

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