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PM Mitsotakis: 'Double upgrade for Greece'

Featured PM Mitsotakis: 'Double upgrade for Greece'

FitchRatings agency late on Friday upgraded Greece's economy one entire grade from BB- to BB, while Prime Minister Kyriakos Mitsotakis was wrapping up his visit to the 2020 World Economic Forum at Davos, Switzerland.

In a Saturday post on Twitter the Greek Premier wrote "double upgrade for Greece: Fitch upgraded Greek economy, bringing us one step closer to investment grade, while Transparency International recorded the country's improvement by seven places on the corruption perception index. Greece is coming back!" 

While at Davos, Kyriakos Mitsotakis highlighted the comparative advantages of Greece's economy as it emerges from the government's reforms, in view of attracting investments and also promoted his diplomatic agenda, said government sources on Saturday. 

Mitsotakis also tweeted that "the World Economic Forum in Davos confirmed the great investments interest in our country, in energy, green economy and technology. We are at the beginning of a long period of growth in Greece," he wrote.

In less than 48 hours, Mitsotakis held more than 17 bilateral contacts with key political and business figures, participated in two events on the official agenda and was interviewed by both Bloomberg and Politico, signaling the new opportunities and choices arising for Greece in the global business community. 

Sources at Maximos Mansion, the prime-ministerial headquarters observed that "substantial foreign investors see Greece differently than before July 7th, as they are now encouraged by a new government that reduces taxes and bureaucracy, implements substantial reforms and restores confidence in the Greek economy, but are also encouraged by the apparent political stability, something which is far from given in other European countries." 

In this context, sources continued, the assessment from Davos 2020 points to "a growing interest in cooperation, in areas such as the country's digital upgrade, the cultural heritage, the increase of electronic transactions, the development of renewable energy, climate change, waste management, the real estate market, and more investments that render Greece a central investment hub in the wider region of the southeastern Mediterranean.

Another chapter in the experts' assessment of the Greek prime minister's presence and effect at Davos 2020, sources said, concerns geopolitics, in particular his outlining of the geopolitical profile that is being given rise to in Greece's wider region due to Turkish provocations, and also how he pointed out that Ankara has recently shown a particularly aggressive attitude by signing an 'unacceptable agreement' with the Tripoli government, which blatantly violates international law.

Concerning the issue of the migration crisis, sources underlined that while at Davos Kyriakos Mitsotakis stressed how it must be disassociated from other issues, that it should not be used as a political tool by Turkey to 'blackmail Greece and the entire European Union' and that he called for an update of the EU-Turkey agreement on the management of refugee outflows from the Turkish coastline to Europe via Greece.