October 9, 2011
As Angela Merkel and Nicolas Sarkozy held another round of crisis talks to resolve Europe's debt crisis, a new strategy is being pursued in the country on the frontline of the drama: for the first time the European Union's big players are focusing on Greece's problem-plagued real economy rather than its runaway debt.
In a clear change of tactic, Germany has taken bold steps to revive the recession-hit Greek economy. After months of chastising Greece it has gone out of its way to encourage small and mid-sized German companies to do business there, signing a ground-breaking investment deal with the crisis-hit nation.
"The purpose of this visit is to get German investments to Greece, to improve Greece's competitiveness," said the German economy minister Philipp Rösler after back-to-back talks in Athens on Friday. "We believe that Greece can become a very important investment destination," he added.
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