Debt woes may boost gold investments
European Goldfields, which is involved in the mining and development of mineral properties in northern Greece, Romania and Turkey, said yesterday said that Athens’s current financial problems could speed up the process of obtaining a permit in the Mediterranean country. ‘Greece has got to cut spending and generate GDP so it is now looking around to see what projects it can bring forward and facilitate to help with that process. The desire to create jobs and promote economic growth is all the greater,’ Tim Morgan-Wynne, European Goldfields chief financial officer, told Reuters. The company could create an additional 1,000 jobs in Greece and bring in large amounts of direct investment over the 20-year lifetime of these projects, Morgan-Wynne said.