Bloomberg News

EU Task Force Says Greece Hasn’t Reached a Trough, Welt Reports

November 25, 2011

Nov. 24 (Bloomberg) -- Investors will only return to Greece once they believe that assets are cheap and won’t decline further, which can’t be said at the moment, German daily Die Welt reported, citing the head of the European Union task force helping the country with reforms.

The EU Commission expects no economic growth in the country next year, which is why the task force’s main job will be to improve the business environment, the newspaper quoted Horst Reichenbach as saying in an interview.

Reichenbach said he wants to keep the task force in Greece for three years as it helps the country with taxation issues and the modernization of its bureaucracy, Die Welt reported him as saying.

To contact the reporter on this story: Jan Dahinten in Singapore at jdahinten@bloomberg.net

To contact the editor responsible for this story: Alan Soughley at asoughley@bloomberg.net


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