By Mark
Deen - Feb 19, 2013 1:01 AM GMT+0200
Bloomberg
Francois
Hollande plans to emphasize the prospects of a return to growth in the first
visit of a French president to Athens since Greece
Hollande, a
Socialist who won last May’s election emphasizing growth over austerity, will
repeat his commitment to keeping Greece
The visit,
which kicks off with Samaras greeting Hollande with military honors at 11:30
a.m. in Athens Germany
and France are the two
biggest contributors to the two bailout packages for Greece
“Hollande
is likely to be better received than Merkel since France
has been less vocal about the need for strict austerity despite contributing
nearly much money as Germany ,”
said Michael Michaelides, a rates strategist at Royal of Scotland Group Plc in London
Merkel met
Samaras Oct. 9 in Athens Greece
Since then,
euro governments have agreed to release 49 billion euros ($66 bilion) through
March, unblocking emergency aid that was frozen since June.
Shrinking
Economy
“The most
important driver is the reduction of the fear that Greece
will leave the euro,” Stournaras told Bloomberg Television in an interview in Athens Greece
The
International Monetary Fund predicts growth of 0.6 percent in 2014 after a 4.2
percent contraction this year.
In
November, Stournaras secured two extra years until 2016 from euro-area peers to
meet European Union and IMF budget- reduction targets. That came after
Samaras’s three-party coalition secured parliamentary approval for 13.5 billion
euros of budget cuts demanded by international lenders in return for funds that
would keep the country solvent and in the euro area.
Nicolas
Sarkozy’s visit in June 2008 was the last time a French president was in Athens
To contact
the reporter on this story: Mark Deen in Paris
To contact
the editor responsible for this story: James Hertling at
jhertling@bloomberg.net
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