The Greek government has said that the country has turned a page after years of economic recession. It expects growth of around 2 percent in 2018 and argues that it will end the third bailout program as planned in August without any further financial help from creditors.
“We do believe that stability will also create more deposits in the local market,” Megalou said, adding that confidence in Greece is gradually being restored.
“There a lot more (reforms) to be done for confidence to be fully restore but we are in the right trajectory,” he said, “the best trajectory since the beginning of the crisis; it cannot get worse, it can only get better.”
Greece has faced economic problems since 2009 and received three bailouts, though it didn’t finish one of them. In 2015, many suggested Greece should exit the euro zone.
Paul Kazarian, CEO of Japonica Partners, the largest private holder of Greek debt, told CNBC Tuesday that the current Syriza government has surprised everybody with the work it has done since the height of the economic crisis.
“Yeah they have really surprised everybody, what he (Greek Prime Minister Alexis Tsipras) has done for a Socialist, wow, he has embarrassed the prior government … And without (a) business background, without experience,” Kazarian told CNBC.
“He merits support, it doesn’t matter if he is from this party or that party, he and his team have executed an extraordinary accomplishment, and should be complemented,” the U.S. investor added.
