x

Economy

Schinas: The Creation of the Recovery Fund is a Historic Initiative

ATHENS — Μargaritis Schinas, Vice President of the European Commission and Commissioner for the Promotion of the European Way of Life, described the creation of the Recovery Fund as a historic initiative, speaking at the 8th Development Conference, co-organized by newspaper "Peloponnisos" and Western Greece region.

As he said during the conference "European Union, Greece, Recovery: New Tools for the New Age", the proposal we decided at the College of Commissioners on May 27 is an unprecedented act, which has solidarity at its core.

At the same time, as he pointed out, "it is a historic moment, for two reasons" and he explained: "First, for the unprecedented amount of the funds: The European Commission proposes a new budget – the so called multiannual fiscal framework for the period 2021-2017 of total amount 1.9 trillion euros which includes 750 billion euros for the recovery tool – Next Generation EU, two-thirds of which are subsidies, not loans.

Secondly, because for the first time, the partners are taking on the burden of recovery through the EU budget as a whole, without forcing the already burdened economies of the south to borrow individually to overcome a crisis involving the EU as a whole."

RELATED

ATHENS — Credit ratings company Fitch has revised Greece’s outlook to positive from stable, although it kept the country’s rating at BB, two notches below investment grade.

Top Stories

United States

JANUARY 14-17 GLENBROOK, NV – The Greek Orthodox Metropolis of San Francisco 2022 Young Adult Winter Retreat ‘Citizens of the Desert: Embracing Our Role as Christian Witnesses to Our World’ takes place January 14-17, Martin Luther King weekend, at Lake Tahoe, the Galilee Camp and Conference Center, 1776 U.

Associations

CHICAGO – The Greek Women’s University Club (GWUC) celebrated the organization’s 90th anniversary and the launch of the Hellenic Revolution’s 200th anniversary with a scholarship presentation to three female students on December 29th at Jameson’s Charhouse.

Cinema

The long-awaited historical epic film My Beloved Smyrna (Σμυρνη Μου Αγαπημενη)  has arrived in Greek cinema theaters after a glamorous premiere at the Megaron - Athens Concert Hall.

Video

TNH’s Happenings of the Week by Eraklis Diamataris

The National Herald’s Happenings of the Week (Jan 8 – Jan 15) as have been reported at the print and digital editions of TNH and presented by the TNH Editor Eraklis Diamataris.