ECONOMY

Paulson freezes further Greek investment plans

Hedge fund manager John Paulson, whose company Paulson & Co holds a 5 percent stake in EYDAP and Eurobank, told the 16th Capital Link Invest in Greece Forum in New York on Monday that he is freezing his plans to invest further in the country due to the political instability.

“Our investment plans are on hold for now, until we see the result of the presidential election. As soon as political stability is achieved, we will accelerate our investments,” he stated.

Paulson added that reforms in the country are paying dividend, but “what Greece needs is political stability,” noting also that it would be best if the elections took place in June 2016.

“Greece is at the start of a remarkable turnaround in its course, but political uncertainty will have to be lifted immediately.”

He added: “It’s too early to hold fresh elections. The uncertainty has caused a drop in Greek stock markets and shares, while new investments are being postponed. The best course of action would be to avoid elections until June 2016 and give time to the current policies to act.”