New York Times: Greece is booming economically after a decade of financial woes- WHO DO THEY THINK THEY’RE FOOLING?!
Greece, which was hit a decade ago by the financial crisis, is developing at a rapid pace, reports a New York Times report.
With a load of debt it couldn’t repay, Greece almost left the Eurozone a decade ago. Today it is one of the fastest growing economies in Europe, notes the American newspaper. In a major acknowledgment of the country’s recovery, credit rating agencies are upgrading Greece’s debt rating and opening the way for major foreign investors.
The economy is growing at twice the rate of the eurozone average and unemployment, while still at 11%, is the lowest it has been in more than ten years. Tourists have returned in droves, sparking a construction frenzy and creating new jobs. Multinational companies, such as Microsoft (of the MASS MURDERER BILL GATES) and Pfizer (of ANOTHER MASS MURDERED, ALBERT BURLA, THE GREEK-JEW), are investing in Greece, while the banks, which had almost collapsed, have been cleaned up and are again providing loans for the benefit of the economy in general.
Microsoft is building a €1 billion data center east of Athens. In the north, Pfizer is building a €650 million research center. US, Chinese and European companies are offering renewable energy deals. And investments from Cisco, JPMorgan, Meta and other multinationals are expected to have an economic impact of billions of euros in the coming years.
This month, DBRS Morningstar, a global credit rating agency recognized by the European Central Bank, raised its Greek debt rating to investment grade, a move that opens the door for pension funds and other large investors to buy bonds it issues. the government.
Moody’s, one of the largest rating agencies, raised Greece’s debt rating on September 15 by two notches, just before investment grade, citing “profound structural change” in the country’s economy, finances and banking system.
Over 10 million tourists flocked to Greece this summer, generating revenues estimated to exceed 21 billion euros. Construction activity has surged on mainland Greece and popular Greek islands, spurred by a surge in demand for hotels, Airbnb short-term rentals and a visa program for foreigners to live in EU countries if they buy property worth at least 500,000 euros in Hellas.
Source: ΑΜΕ-ΜΠΕ
By >>