October 16, 1953

GEORGE PAPANDREOU: During yesterday’s «small» Parliament meeting, the bill on investment and protection of foreign capital was discussed. (…) Mr George Papandreou, analyzing the substance of the government’s bill, claims that the protection provided in general for every form of investment in production was a major risk for the national economy (…). The export of capital should not be allowed for sums greater than the import income which the firms in question have earned from the investment of foreign capital. (…) «Only if the coordination minister (Spyros Markezinis) owned the country,» said Papandreou, «and if the Greek economy was his own private firm, should he have such unlimited power.» CONSTANTINE MITSOTAKIS: Constantine Mitsotakis, rapporteur for the opposition, agreed with Mr Papandreou regarding the unconstitutional character of the bill (…). Nevertheless, he recognizes the need for security for foreign capital and claims the bill would lead to a reduction in foreign currency reserves. GREECE-FRANCE: Paris, 16 – French proposals have been submitted for the construction of power projects in Greece.