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Skylakis: Greece Must Make "Good Use" of EU Recovery Funds

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Deputy Finance Minister Theodoros Skylakakis (Photo by Eurokinissi/ Yannis Panagopoulos)

ATHENS -- Alternate Finance Minister Theodoros Skylakakis said that one of his "worst fears would be to have the money and not put it into good use," at the 2nd Regional Growth Conference in Patras on Thursday.

The minister was referring to the significance of the EU Recovery Fund for the national economy, and also cited the lack of investments in Greece between the years of 2010 and 2018, which gave rise to the 'brain-drain' phenomenon and kept the state's modernizationbehind.

Skylakakis participated in a panel on the prospects of Greek economy in the post-coronavirus era with Portuguese economist Vitor Gaspar, American economist Jeffrey Sachs and Greek economist Phoebe Koundouri.

Speaking of vaccinations, Gaspar said that vaccinations for coronavirus will have been completed by 60 pct of the global population by the end of 2022, and he asserted that despite initial uncertainties the world economy will grow.

Sachs spoke of Greece's investment opportunities in wind power and in tourism that resulted from the good climate creates.

Koundouri spoke of Greece's need to modernize its public sector, a better access to jobs, and policies in taxation. The public sector must change in a way that boosts private investments in order to achieve sustainable development, she said.

The 2nd Regional Growth Conference is organized by the Patra-based "Peloponnisos" newspaper, and is taking place on June 3-5. Athens-Macedonian News Agency (ANA-MPA) is the event's media partner.