Prime Minister Alexis Tsipras met yesterday with Prem Watsa, founder and Chief Executive of Canadian insurance conglomerate Fairfax Financial Holdings, who expressed optimism for Greece. Watsa’s company owns a 13.6% stake in the Greek financial institution Eurobank. Speaking to senior executives of Eurobank and subsidiary property firm Grivalia, Watsa said: "I’m optimistic for Greece. In a year from now, the environment will be different. In the new environment, the economy will recover significantly. Greece has numerous advantages."

Turning his attention to Eurobank, he said once uncertainty about the Greek economy is lifted, the bank’s progress will be outstanding. "In spite of the fact that the bank’s share initially rose and then fell…its economic fundamentals have not changed…Short-term fluctuations, either in share price or in the economy, are not a reason for concern. Things will turn around," Watsa told bankers and officials. 

In Greece, apart from Eurobank and subsidiary Grivalia, Fairfax bought Praktiker Hellas in 2014 and owns more than 5% of Mytilineos Group.