A return to the drachma would a disaster, Evaggelos Mytilineos, chairman of Mytilineos Group, said on Tuesday while he stressed that the group’s deposits remained in Greek banks and expressed the group’s interest to participate in a government privatization program.
Addressing a general shareholders’ meeting, Mytilineos underlined the need for the country to take advantage of the last opportunity it was offered and stressed that problems would remain as long as wages and pensions continued paid through borrowed money. He expressed interest, on preconditions, to acquire DEPA and Larco, both included in a government’s privatization program, while he predicted that the government would sell 51 pct of Public Power Corporation.

Mytilineos said turnover was up 30 pct in the first quarter and said that that MEKTA would maintain its base in Greece despite recommendations made by foreign investors to move abroad.