Economy ‘desperately needs’ foreign investments

Greece can only achieve a high economic growth rate if direct investments increase, Bank of Greece Governor Yannis Stournaras said in an interview with US magazine Fortune.

"We desperately need foreign direct investments," the former finance minister said in response a question on planned investment projects that have not yet materialized, such as Cosco's grand plans for Piraeus Port Authority.

He said Greece only invests 10 percent of its gross domestic product, a rate which had stood at 20 percent of GDP before the economic crisis.