Greece was not competitive but structural changes made in recent months will make it competitive in the future.
Greece will not go to market anytime soon for funding, he says.
Middle East, Israeli and Chinese companies are investing in Greece as their portals into the EU, Papandreou told CNBC.
EUR/USD has been under mild pressure all afternoon. Traders reported some USD buying versus Scandinavian currencies earlier in the afternoon and that may be filtering through to EUR/USD. A US multinational was said to be the main dollar buyer.EUR/USD trades now at 1.3057.
