'The COVID-19 pandemic has led to a major economic shock that is already having a significant negative impact in the European Union,' EU finance ministers said in a statement.
At this juncture one can see how correct the decision of the economic team of the previous government was to shield the budget and endow it with a cash buffer that can prove extremely useful.
The aim is to strike a delicate balance between the rights and needs of both labour and business within the extremely tight fiscal framework that is the legacy of Greece’s bailout memorandums.
The Fund called on all governments to forge a coordinated international response in order to limit the economic impact of the epidemic.
One of the particularities of the current crisis as compared to the great fiscal crisis is that the virus harms both supply and demand. It leads to the closure of factories, breaks supply chains, and limits consumer consumption.
Bank of Greece Governor Yannis Stournaras stated recently that projections about the economy take into account the possible impact of the coronavirus and other serious dangers such as the sudden adjustment of global financial markets
Greece's political and institutional dysfunctions were revealed later when the time came for admission to the EU’s Economic and Monetary Union.
The intention of the German giant Volkswagen to make an investment on the island of Thasos sends a positive signal and a resounding message that could trigger investment by equally important companies in global industry.
The government should follow the example of the generosity of the collective bargaining contract of Hellenic Telecommunications and not become entrenched in a dogmatic, unreasonable economic approach.
Turkey’s demands are now far more expansive and go far beyond the Aegean region to include the broader region of the Southeastern Mediterranean and Cyprus’s EEZ.
In recognition of the great sacrifices of the Greek people, the country’s creditors should take a further step to assist in efforts to establish and expedite the path of economic growth.
Almost immediately the PM implemented a plan whIich was based on creating the conditions to restart the economy by attracting foreign investment.
Tasoulas offered a quotation alluding to Turkish provocations, “While for most peoples of the East light comes, for us comes the darkness.”
Since winning the elections he has systematically and in an organised manner highlighted the different angles of his overall policy without resistance or serious disputes.
This four-pronged guarantee of fiscal stability, along with competitive prices, wages, and values lead ineluctably to a flowering of the Greek economy.
The only market that appears active and justifies expectations is real estate which is fueled by the interest of foreigners and the certainty that tourism will grow over the coming years.
According to Brussels’ basic scenario the Greek economy is stabilising more rapidly than expected and the Greek debt will be reduced over the coming decades
As long as banks labour under the weight of non-performing loans (NPLs), there can be no hope.
In the case of Mr. Tsipras’ government which came to power in 2015 in the midst of a great economic crisis things were worse.
'Patience is needed because the economy is improving significantly. The upward trend exists and this trend must continue in order for the brain drain, which is very dangerous for the country, to stop,' he said.