Greece Has Accomplished A+ Performance - Japonica Partners
Wednesday, 27 November 2013
U.S.-based Japonica Partners urged called policy makers in Athens, Brussels, Frankfurt and Washington DC to take steps to upgrading the country’s rating, the Athens News Agency – Macedonian Press Agency reported.
Japonica Partners, an entrepreneurial investment firm that makes concentrated investments in underperforming global special situations, recently completed a tender offer for the purchase of Greek state bonds.
“[…] it is an irrefutable fact that Greece has accomplished one of history's most extraordinary sovereign fiscal rejuvenations, an A+ performance. Now is the time to progress beyond the current economically irrational and anachronistic accounting that obfuscates that Greece merits an A+ credit rating and government bond interest costs below 5%. Now is the time to recognize that this accounting is the single biggest and most easily removed obstacle to extraordinary growth in Greece,” Japonica Partners said, as quoted by the news agency. “And, now is the time for public policy makers to expeditiously advocate accounting as well as presentation that reflects economic reality, improves decision-making, and increases accountability,” it added.