Gennimata Speaks of the Problems Faced by Greek SMEs

November 18, 2020

ATHENS — The problems faced by self-employed professionals and small- and medium-sized enterprises as a result of the new bankruptcy code and the insufficient government support measures after the new lockdown were discussed by the president of the Movement for Change (KINAL), Fofi Gennimata, in a virtual meeting on Wednesday with representatives of Chambers and professional associations throughout Greece, organised by the Athens Chamber of Commerce and Industry.

After the meeting, Gennimata stated, among others, that "especially after the second lockdown, the small and medium-sized Greek company is in danger. The recession in the economy is deepening, falling incomes are reducing consumption and many businesses are at risk of folding."

KINAL's leader said that the government is failing to meet the needs that have arisen and that the measures it announces are inadequate. She added that the new bankruptcy code passed by ruling New Democracy (ND) does not give businesses a second chance, while threatening the primary residence of owners with foreclosure and turning them into tenants.

"All our actions aim to prevent the crisis from creating new impasses, to keep society upright and the economy alive," she added, while outlingin key KINAL proposals for the survival of SMEs and the self-employed.


ATHENS - There was keen investor interest in acquiring a 27 percent stake in Piraeus Bank from Greece’s bank bailout fund, which was oversubscribed as it will be the third of the country’s four biggest banks to be fully privatized.

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