Biggest foreign investor is ‘bullish’ on prospects

Biggest foreign investor is ‘bullish’ on prospects

The Greek economy is “in an especially good position,” local banks are “extremely well capitalized” and the country’s debt will be upgraded to investment grade a few months after the elections.

This is not a government official painting a rosy picture but the biggest foreign investor in Greece, Prem Watsa, founder, chairman and CEO of Toronto-based Fairfax Financial Holdings, with assets exceeding $75 billion.

Watsa started investing in Greece in 2012, in the depths of the financial crisis, when many still expected Greece to withdraw from the euro.

He now calls himself “bullish” on the Greek economy and has declared to Kathimerini he will not sell a single share in his Greek holdings.

These include important minority stakes in industrial conglomerate Mytilineos, in Eurobank and in real estate development and hotel operator Grivalia Hospitality.

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