Donald Trump's message to Greece: USA will INVEST in debt-ridden nation to save it from EU

The US President pledged to help the Mediterreanean nation back to prosperity after its struggles with EU austerity over the last 8 years.

The two leaders met at the White House for cordial talks and among the topics for discussion were investments in Greek oil resources and Greece-based military bases as the relationship between the USA and Turkey becomes tense.

Standing alongside the Greek Prime Minister after their meeting, Mr Trump said: “The American people stand with the Greek people as they recover from the economic crisis that recently afflicted their nation. 

“A strong and flourishing Greece provides immense opportunity for American trade, investment and job creation.”

The flow of US investment into Greece is taking on a new urgency in recent weeks with the administration looking shore up economic and defence ties with the NATO ally.

Tsipras said his country had made economic strides and is “leaving behind the economic model that led to the crisis”

Greece is currently emerging from an 8-year financial crisis and is keen to attract US investors.

Costis Stambolis, executive director of the Institute for Energy for South East Europe (IENE) told CNBC: “Greece’s contingent oil reserves are estimated at 950 million barrels.

“To date, however, 50 million of proven reserves have been discovered. Major energy companies are lining up to tap the country’s hydrocarbon potential in the waters surrounding southern Crete and the Grevena region in northern Greece, close to the route of the Trans Adriatic Pipeline.”

Diplomatic sources have confirmed the leaders are focusing on investments and collaboration in defence.

The President said he had spoken to his Greek counterpart about a potential $2.4 billion to upgrade F-16 aircraft in Greece’s Air Force. 

The US State Department approved the possible sale on Monday, and Mr Trump said his administration had informed Cogress of the potential sale.

Trump has previously spoken of his distain for the EU’s power over Greece, in 2012 he tweeted hat Greece should get out of the euro and go back to its own currency. He wrote: “They are just wasting time.”

The President also took another sideswipe at EU nations by praising Athens for being among the few NATO members to spend at least two per cent of gross domestic product on defence, something he was repeatedly criticised other nations for failing to do. 

Those comments have been seen as an attempt by Mr Trump to forge a strong allience with a fellow NATO member at a time when US relations with Turkey crumble. 

Mr Trump even laughed off Mr Tsipras’ earlier negative comments about him being “evil”, joking: “I wish I knew that before my speech.”

Mr Tsipras psaid he was “very optimistic” about the future releationship between Athens and Washington.

“Don’t forget that the value of democracy and freedom was born in Greece,” he said. 

“It’s one of the values that traverses American culture and American tradition. The President now continues that tradition.”

Greece is now on the path to economic recovery after eight years of Eurozone bailouts and sweeping austerity measures.

In the summer, Athens approved an application to drill for oil and gas off the coast of Crete from a consortium featuring US petroleum giants ExxonMobil, alongside Total, and Hellenic Petroleum. 

Mr Trump, who once said trying to save Greece from financial ruin inside th eEuro was “a waste of time” today said the nation was “doing a terrific job of coming back.”