MYTILINEOS S.A.

07.09.2012 Share

This was the conclusion of the interview given by Mr. Evangelos Mytilineos at Bloomberg TV, today on the City Central show, who noted that all Greeks need to assist and support the country, as regards to growth and its stay in the eurozone. What is necessary, according to Mr. Mytilineos, is for both Greece and its foreign partners to work towards this direction. Greece should "do its job" by materialising reforms and privatizations, in order to secure its stay in the eurozone, something that also constitutes a wish of its partners.

Moreover, Mr. Mytilineos mentioned that the austerity measures lead to a vicious circle of a continuous GDP push down, underlining the need for this current austerity package to be the last one. Mr. Mytilineos noted that Greece's creditors, the EU and the IMF, want for Greece to stay in the euro, adding that this is also what Greece itself wants. Referring to the difficulties the Greek business capital is facing today, he mentioned that it is "too tough" for one to be a businessman in Greece these day, as, for approximately three years, Greek companies function actually without the aid of a banking system. Mentioning that liquidity in true economy has practically dried out, he underlined that reinforcing extroversion is a one way street.

He noted that this is the tactics followed by Mytilineos Group, which also cares to maintain positive cashflow, so as to have limited dependence from outside funding. The exit from the euro will be of devastating consequence for Greece, Mr. Mytilineos mentioned, noting once more that, despite the fact that the return to the drachma would financially benefit the Group, as a Greek and a patriot his wish is for Greece to remain in the euro.