October 6, 2011
Germany's economy minister, Philipp Rösler, arrived in Athens on Thursday with businessmen, entrepreneurs, financiers and green energy experts in what was billed as a potentially groundbreaking visit to draw badly needed investment into the debt-stricken country.
The prospect of German business reviving Greece's economy might have seemed far-fetched not long ago: at 109 in the World Bank's "ease of doing business" index, the nation ranks below Bangladesh, Ethiopia and Yemen. Foreign direct investment in the country was on a par with that of Libya before the outbreak of war.
But like all great crises, Greece's debt drama has also provided opportunities. Before departing Berlin, Rösler, who had previously advocated an "orderly bankruptcy" for Athens, said he hoped the visit would "act as a door-opener, so that personal contacts can be made".
"In the spirit of solidarity, it is the task of all Europeans to help Greece get back on its feet economically," he told the German broadcaster ZDF. "And we want to take German firms to Greece," he added, where the crisis was both about "debt … and the lack of economic competitiveness".
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