American billionaire John Paulson made a direct intervention in the Greek political environment saying that he opposes early elections in Greece and warning that investors need political stability. Speaking during the 16th Annual Capital Link Invest in Greece Forum in New York, Paulson said among others:
– “It’s too early to hold new elections. The uncertainty has caused a drop in Greek stock markets and shares while new investments are being postponed. The best course for action is to avoid elections until June 2016 and to give time to the current policies to act.”
– “With political stability, growth in Greece will be accelerated in 2015 and 2016 and will create more jobs.”
Paulson said also that he is willing to do more investment in Greece but in order to do this political stability is required.
“Our investment plans are on hold for now, as we are waiting for the result of the presidential election. If there is political stability, we will increase our investment, “he said.
Greece is looking forward to the election of the new President of the Hellenic Republic in March 2015. If the coalition government of Nea Dimokratia and PASOK will not manage to collect 180 votes for the election of the next president the Parliament has to be dissolved and snap polls are inevitable. ND-PASOK can currently collect no more than 154-155 votes. Opposition parties oppose the election of the President by the current Parliament trying to enforce early elections.
Hedge Fund manager John Paulson is founder of investment company Paulson & Co. Inc. among his investments worldwide, Paulson holds also 5% of the Greek Eurobank and Greek EYDAP, the Athens Water Company.
I cannot tell you how many jobs have been created by Paulsons’ investment in Eurobank and EYDAP. I suppose, the job creation in these two companies reached the magic number of <zero>…
PS am I right to suppose that investors do not want democratic elections at all, but a permanently stable political environment in a broke country where they can invest their money and buy cheap?
