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Bloomberg: Greece’s Successful Management of the Pandemic Does Carry a Prize

ATHENS — "Greece’s successful management so far of the pandemic does carry a prize. For a start, Prime Minister Kyriakos Mitsotakis has been able to reopen the domestic economy before other countries," according to a Bloomberg article on Wednesday.

This will reduce the hit on gross domestic product, it said and added:" The government put in place expensive measures — including loans for small and medium-sized enterprises, and a furlough scheme for the underemployed — to help businesses and workers. It will hope to scale them back faster than elsewhere as activity resumes, easing the burden on the public finances."

Moreover, the country’s reputation is improving, Bloomberg noted. "One reason not to invest in Greece was the expectation that it would handle a crisis worse than others. That meant some foreign companies held back from pouring money into the country. The skepticism is starting to disappear. Last year, the Athens stock exchange index was the world’s best-performer — a sign of growing confidence in Mitsotakis’s reformist administration. Now, Greece’s 10-year bond yields have fallen below Italy’s, partly thanks to the European Central Bank’s decision to include the nation’s debt in its quantitative-easing program."

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