Greece “will invest, not spend, its share” of the EU €750 billion recovery plan

Following the announcement of the €750 billion aid package to help Europe’s economic recovery from the fallout of the coronavirus pandemic, Greek government spokesman Stelios Petsas said Greece will invest, not spend, its share of the EU Recovery Fund “prudently and responsibly.”

“Greece is one of the countries benefiting the most from the European Commission’s proposals, as the supplemented financial package of tens of billions of euros it is entitled to reflects the country’s improved credibility,” he noted.

The European Commission’s proposal meets the four conditionalities initially put forth by Greece for the fund: “to be large and ambitious, flexible, to rely more on grants and less on loans, and to be financed by joint European lending,” he highlighted.

Finally, Petsas underlined that “Prime Minister Kyriakos Mitsotakis welcomed the European Commission’s proposal as a bold step, which proves that the European Union can act decisively in the interest of European citizens. Powered by solidarity, convergence and cohesion, the EU can emerge stronger from this crisis.”

“The recovery plan turns the immense challenge we face into an opportunity, not only by supporting the recovery but also by investing in our future: the European Green Deal and digitalization will boost jobs and growth, the resilience of our societies and the health of our environment,” European Commission President Ursula von der Leyen said in the statement.

“This is Europe’s moment. Our willingness to act must live up to the challenges we are all facing. With Next Generation EU we are providing an ambitious answer,” she added.

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