ATHENS – Main opposition SYRIZA spokesperson Alexis Charitsis on Friday referred to a visit made by the party's leader Alexis Tsipras' to the commercial centre of Athens the previous day, saying this had revealed the deep fears of workers and small businesses about the future of Greece's economy.

"If we do not take the necessary measures promptly and enter into a vicious cycle of layoffs, shutdowns, new losses of state revenue and the collapse of social security funds, then the unfavourable developments will become an avalanche that will lead to the collapse of the Greek economy," Charitsis said.

On the other hand, he claimed that "at a time when it is becoming clear on a global level that state intervention in the economy is an essential condition for the survival of economies, enterprises and workers, the interior minister cited capitalism to justify the government's decision to not protect jobs".

Charitsis pointed out that SYRIZA had early on highlighted the need to keep supply and demand alive and had warned the government not to subsidise the suspension of labour contracts but the retention of jobs and salaries, calling the government's response "inadequate and tardy" as it has "announced fiscal measures amounting to 3 pct of GDP and implemented even less."

He underlined the the major concern now was not whether SMEs will make profits but whether they will be able to stay afloat.