x

Politics

Mitsotakis Tells Employers COVID-19 Undermined Recovery, Sees Comeback

ATHENS – The sudden onslaught of the deadly COVID-19 came just as Greece was beginning to speed out of a near decade-long economic and austerity crisis but has only “interrupted” it, Prime Minister Kyriakos Mitsotakis said.

He gave the assessment to the annual general assembly of the Hellenic Federation of Employers (SEV,), the country's largest group in the sector, hoping that a late-starting tourism season will hold off a worse debacle.

He brought a lockdown and stay-at-home order on March 23, before a single death, the closing of non-essential businesses helping bring one of the best records in the world in dealing with the pandemic.

But businesses shut as long as 10 weeks, as the government poured in 17.5 billion euros ($19.69 billion) in subsidies to laid-off workers and closed workplaces has taken a heavy toll on the economy that was on a course to grow as much as 2-3 percent, now shrinking.

He said his government's priority is to put a brake on firings, due to the effects of the lockdown, said the business newspaper Naftemporiki, although he hasn’ offered a plan to hold down unemployment as many businesses closed for good  during the lockdown.

The major rival Radical Left SYRIZA claimed he was bringing a recession, not a recovery, even before COVID-19 without mentioning they had been anti-business and driven away foreign investors, stymying major projects.

The first quarter of the year saw a contraction of 0.9 percent of the Gross Domestic Product (GDP), four times less than the Eurozone average, but most of the effect of the lockdown will be in the second quarter, although some international tourism began on June 15.

RELATED

WASHINGOTN - Greek Foreign Affairs Minister Nikos Dendias met with US Secretary of State Antony Blinken in Washington on Tuesday, the minister tweeted.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mitsotakis Meets with Biden at the White House (Video)

WASHINGTON, DC – Greek Prime Minister Kyriakos Mitsotakis met with US President Joe Biden at the White House on Monday, in the first day of an official two-day visit to the American capital.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.