Looking for a convergence play in Europe? There’s still one bet left: Greece, potentially the last of the euro-bubbles. Investors keen to gamble on Greece’s entry to Emu may find their chance in the country’s privatization programme.
Since the drachma’s devaluation on March 14 this year, things have been looking good for Greece. The 14% drop in the value of the national currency and the end of the hard drachma policy was seen by many as proof of the Greek government’s commitment to economic restructuring and joining the Emu project in 2001.
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