GR US

Tsipras Urges Partial Write-Off of Private Debt Amid the Persistent Pandemic

Ευρωκίνηση

YRIZA-Progressive Alliance leader Alexis Tsipras. (Photo by Eurokinissi)

ATHENS -- There should be a generous partial write-off of private debt amid the unfolding pandemic, pointed out SYRIZA-Progressive Alliance leader Alexis Tsipras while visiting the Athens area of Ilion.

At the district of Ilion, the main opposition party leader spike with shop owners, professionals and civilians about the economic downside of the coronavirus pandemic, and pointed out that small and medium-sized businesses were subsidized by the state in all EU countries, as closures across the bloc were brought on by the pandemic and "by no fault of their own".

Therefore, the most critical issue at the moment is the financial support of these businesses, while a step towards that could be an ample axing of private debt, which was the result of retail sector closures for shop-owners and other businesses during the pandemic.

The recent 'click-away' method of online ordering and personal order pick-ups did not reverse, or even came close to reversing the economic damage of closures, retailers and professionals at Ilion told Tsipras.

The prolonged lockdown has resulted in an overall 60 pct reduction in earnings, they added. "We borrow money to pay off our debts to state authorities and the tax office", others stressed.