ATHENS — The first day of the online conference organized jointly by the European Commission in cooperation with the Foundation for Economic and Industrial Research (IOBE) ended late on Wednesday.

Finance Minister Christos Staikouras underlined the immediate reaction of Greece to the unprecedented crisis, explaining that the Greek government has a plan, the ability and the determination to implement all that is needed to face the challenges. He noted that the safety net for protecting households and businesses from the effects of the pandemic includes measures totaling 24 billion euros, corresponding to 13 pct of GDP, measures that can be enriched depending on the development of the pandemic and the fiscal margin. The Minister of Finance referred to the need to cover the investment gap created by the crisis and the decisive role of European funds and initiatives such as the Recovery Fund.

Declan Costello, Deputy Director-General of the European Commission's Directorate-General for Economic and Financial Affairs, outlined Europe's actions and initiatives to address the challenges of the health crisis and the next day.