Tuesday, February 26, 2013

Foreign Money Is Revisiting Greece

ATHENS—Foreign investors are returning to Greece as fears of an exit from the euro zone recede, signaling a possible turning point in the country's three-year-long debt crisis.
Amid a general rise in investors' willingness to buy riskier assets world-wide, everything from Greek real estate to energy stocks are finding buyers, promising investment in the country's cash-starved economy.
A steady trickle of foreign money pumped €109 million ($143.8 million) into Greek stocks in the last six months of 2012, followed by an additional €27.6 million in January, according to the Athens Stock Exchange. That money helped lift Greece's major stock index 33.4% last year, making it—bizarrely—the best-performing stock market in the European Union. It is up an additional 10.51% this year, to 1003.32, although it remains well off its high of 6355 reached more than 12 years ago.

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