Greece’s 14.7 billion euro coronavirus measures (in detail)

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The total cost of the measures announced by the Greek government to mitigate the effects on businesses and workers amid the coronavirus pandemic is € 14.7 billion, as recorded in a related document released today, Saturday, Maximos Mansion (see HERE).

In this context, Finance Minister Christos Staikouras noted that the overall bailout reaches 15 billion euros, according to government planning, in combination with European financing and liquidity instruments along with budget spending, while in April specific initiatives will be taken to include additional CSDs in support measures.

Speaking to ANT1, Mr. Staikouras added that by Friday night, 212,059 companies with 321,860 employees had applied to the ERGANI system for support and participation in the programs with the measures, and this shows that we have achieved a redundancy. “

He noted that “we are facing an exogenous problem that is not Greek but global. It is up to the government to take the steps it needs to make a resumption of this crisis based on the path we had as an economy in the first months of 2020, “stressing that the economy is now returning to recession.

“We try to make the best of it, with the fewest possible mistakes. The picture in the economy is getting worse every day. We are waiting to see, according to the recommendations of the experts on the measures, how the economy will move in April and how in May. All the more so when it sounds that there will be a new wave at the end of the year, a responsible finance ministry must take action, ”he said.

Regarding further support for specific sectors of the market, Mr Staikouras said that “this week we will also conduct sector studies on sectors of the economy most affected by the crisis”, noting that in addition to the measures taken , there must be care for areas such as tourism. “We have a mountain of problems to deal with. It takes patience, courage and determination for the measures, “he concluded.

Concerning banks, the Minister of Finance noted that interest is focused on two fronts: deposits, which have no problem with current data, as he said, and “red” loans, “which should not be inflated in the meantime of the crisis, noting that “with the current situation there is no problem in the financial system, which we support.”

Regarding the salaries of civil servants, Mr. Staikouras said that “with the data we have, there is no table and there is no question of a reduction in public pay, but no one knows when the crisis will end and what measures will be required. Nobody in the world knows when this crisis is going to end, we have just taken two months’ time. “

The finance minister called “bazooka” a Eurobond issue, saying that “the Eurobond is what is needed right now, what all countries need. Unfortunately, Europe has not moved in the direction of the Eurobond, and I want to believe that soon the countries that disagree will agree to issue it. ” He added that “in budgetary terms, the European Union has done a great deal, moved swiftly and correctly, effectively abolishing fiscal rules for all. The point is that to make spending, there has to be money, which is scarce in Europe. “

The total cost of the measures announced by the Greek government to mitigate the effects on businesses and workers amid the coronavirus pandemic is € 14.7 billion, as recorded in a related document released today, Saturday, Maximos Mansion (see HERE).

In this context, Finance Minister Christos Staikouras noted that the overall bailout reaches 15 billion euros, according to government planning, in combination with European financing and liquidity instruments along with budget spending, while in April specific initiatives will be taken to include additional CSDs in support measures.

Speaking to ANT1, Mr. Staikouras added that by Friday night, 212,059 companies with 321,860 employees had applied to the ERGANI system for support and participation in the programs with the measures, and this shows that we have achieved a redundancy. “

He noted that “we are facing an exogenous problem that is not Greek but global. It is up to the government to take the steps it needs to make a resumption of this crisis based on the path we had as an economy in the first months of 2020, “stressing that the economy is now returning to recession.

“We try to make the best of it, with the fewest possible mistakes. The picture in the economy is getting worse every day. We are waiting to see, according to the recommendations of the experts on the measures, how the economy will move in April and how in May. All the more so when it sounds that there will be a new wave at the end of the year, a responsible finance ministry must take action, ”he said.

Regarding further support for specific sectors of the market, Mr Staikouras said that “this week we will also conduct sector studies on sectors of the economy most affected by the crisis”, noting that in addition to the measures taken , there must be care for areas such as tourism. “We have a mountain of problems to deal with. It takes patience, courage and determination for the measures, “he concluded.

Concerning banks, the Minister of Finance noted that interest is focused on two fronts: deposits, which have no problem with current data, as he said, and “red” loans, “which should not be inflated in the meantime of the crisis, noting that “with the current situation there is no problem in the financial system, which we support.”

Regarding the salaries of civil servants, Mr. Staikouras said that “with the data we have, there is no table and there is no question of a reduction in public pay, but no one knows when the crisis will end and what measures will be required. Nobody in the world knows when this crisis is going to end, we have just taken two months’ time. “

The finance minister called “bazooka” a Eurobond issue, saying that “the Eurobond is what is needed right now, what all countries need. Unfortunately, Europe has not moved in the direction of the Eurobond, and I want to believe that soon the countries that disagree will agree to issue it. ” He added that “in budgetary terms, the European Union has done a great deal, moved swiftly and correctly, effectively abolishing fiscal rules for all. The point is that to make spending, there has to be money, which is scarce in Europe. “



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