x

Economy

Staikouras: Greek Govt Will Continue Providing Liquidity to the Economy

ATHENS — Greek Finance Minister Christos Staikouras on Wednesday said he expected some consequences from the large shrinking of tourism to be visible from September onwards in the country but stressed that the government will continue providing the economy with liquidity to deal with any problems arising.

In comments made to THEMA 104.6 FM radio, Staikouras said: "My sense is that there will not be a collapse and that's why we take these measures, unprecedented in intensity and speed. Some consequences from the large shrinking of tourism will be visible from September onwards. There will be difficulties, but there is liquidity offered by the Greek government".

He added that if there was a vaccine or the right medicine to combat the coronavirus in the winter of 2020 "we will cover all the losses in 2021, or else it will take a little longer". He urged the banking system to move in line with the government and to disburse more funds in July, adding: "Banks and politicians should be more careful with payment culture. If we create a new generation of non-performing loans, will be running behind developments in the future".

Staikouras said the government expected a large decline in tourism, but hope to limit this decline. "The feeling I have is that everything that can be approached by car will not have the problem islands will have," adding that the goernment will have to take this in mind and to take measures for those hit harder during the summer.

 

RELATED

ATHENS – A highly anticipated week-long event catering to the global maritime community, the Posidonia International Shipping Exhibition, this year saw a record number of visitors and exhibitors – over 40,000.

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

Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

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.