Greek PM calls for EU deal on COVID stimulus

·

Greek Prime Minister, Kyriakos Mitsotakis, said on Sunday he hoped the third day of the EU leaders’ summit will manage to overcome differences and agree on a mass economic stimulus to kickstart growth in the bloc.

“We have been negotiating for three days and, obviously, there has not been sufficient progress to reach an agreement,” Mitsotakis said at the summit.

“I have noted since the very beginning that we all must compromise, but these compromises can’t be such that they weaken our ambition for a brave European response to the coronavirus crisis and the financial storm it has caused.

“We are facing an unprecedented economic crisis and we don’t have the luxury of appearing divided or weak.”

The in-person conference began on Friday, July 17, in Brussels, marking the first time that EU leaders physically convened since the start of the pandemic five months prior.

READ MORE: Greece to receive 32 billion euros in loans and grants from EU aid package.

The proposed sum causing debate includes the EU’s 2021-2027 budget of more than 1 trillion euros ($1.14 trillion), and a recovery fund worth up to 750 billion euros ($857 billion) that was funneled to Mediterranean coastal countries like Greece that were hit the most by COVID-19.

Greece and various other countries now want the recovery financing to prevent their economies from potentially taking on even greater burdens of dept in the future.

“The big picture is that we are faced with the biggest economic depression since World War II. We need… an ambitious solution because our citizens expect nothing less from us,” Greece’s PM further added regarding the welfare of the country and those impacted.

RELATED: Greek economy hit hardest by the coronavirus pandemic, EU says.

So far, no progress has been made on the proposal of the President of the European Union Charles Michel. President Michel outlines that a 70-30 distribution of the Recovery and Resilience Facility will be implemented, which is something that Greece is against.

If approved, under this proposal, 70 percent of funds will be committed during 2021 and 2022, while the rest of the 30 percent will be committed in 2023.

Advertisement

Share:

KEEP UP TO DATE WITH TGH

By subscribing you accept our Terms of Service and Privacy Policy.

Advertisement

Latest News

Community unites to support restoration of Australia’s oldest Greek Orthodox church

Greek community members united on Sunday, June 23 to support the restoration of Australia's oldest Greek Orthodox church.

GOCSA celebrates language, dance and cooking at Annual Schools Dance

On Saturday, June 22, the Greek Orthodox Community of South Australia Language Schools held its Annual Greek Schools Dance at Olympic Hall.

Ambassador Stavros Venizelos holds first meeting with Greek organisations from SA

On Sunday, June 23, Ambassador of Greece to Australia, Stavros Venizelos, met with a number of Hellenic organisations in South Australia.

Greek community urges action to make St Vasilios hall in Brunswick accessible to all

Parishioners at St Vasilios Church in Brunswick West want to install a lift to make the church's community hall more accessible.

Ava Caryofyllis nominated for Logie for ‘Most Popular New Talent’

Young actress Ava Caryofyllis has been nominated for a Logie award in the Most Popular New Talent category.

You May Also Like

Greek government condemns vandalism by PAOK fans of Thessaloniki MP’s office

Greek government spokesman Stelios Petsas condemned the attack at the office of a New Democracy lawmaker by PAOK fans in the northern port city of Thessaloniki on Wednesday evening.

Record-breaking $2.8 million raised for Sydney Children’s Hospitals Foundation at Silver Party

A record-breaking $2.8 million raised for Sydney Children's Hospitals Foundation at the annual Silver Party on Saturday night.

Greek ATP Cup team out of quarantine in Melbourne and hitting the town

The Greek ATP Cup team, featuring Stefanos Tsitsipas, are out of quarantine in Melbourne and hitting the town.