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Economy

Greek SMEs Say Government Measures Welcome but Not Enough

September 14, 2020

ATHENS — The package of economic measures announced by the prime minister in Thessaloniki is in the right direction but the measures heard at the weekend are not, by themselves, sufficient to tackle the recession that is coming in the next few months, said Yiannis Hatzitheodosiou, president of the Athens Chamber of Tradesmen, in a statement released on Monday. He stressed that additional support will be required, which offers the prospect of sustainability to hundreds of thousands of small- and medium-sized enterprises, preserving job positions and supporting social cohesion.

"The measures announced by the Prime Minister in Thessaloniki leave a bittersweet taste. On the one hand, they undoubtedly move in the right direction but we expected more actions to support SMEs, which are struggling to survive. A third round of a programme offering state loans to enterprises is welcome but it will not deal with a lack of liquidity in the market, especially since the vast majority of enterprises have been barred access to financing tools because of the preconditions set by the banking system," he pointed out.

"When we expect an economic recession of more than 10 pct and the loss of around 250,000 job positions, bold initiatives are demanded," Hatzitheodosiou said.

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