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Tag Archives: European Commission

EU Commission revises forecasts for Greece’s economy downwards to 3.5%

The European Commission has revised its forecasts for the Greek economy downwards, envisaging a GDP growth of 3.5% in 2022 and 3.1% in 2023, from 4.9% and 3.5% respectively in its winter forecasts made in last February. On Monday, the Commission released its spring 2022 report on economic growth in …

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European Commission proposes €2.7bn support to Greece for coronavirus repercussions

The European Commission on Monday proposed a 2.7 billion euro financial support to Greece in the framework of SURE program to address the social and economic repercussions from the coronavirus. Specifically, the Commission submitted proposals to the Council to issue decisions aiming at providing 81.4 billion euro support to the …

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Cost of electricity in Greece the highest among EU’s 27

Greece had the highest average cost of electricity among the 27 member-states of the European Union in the first quarter of 2020, a report by the European Commission published on Thursday has shown. The Greek electricity wholesale rate, which is also used to determine the retail rate, stood at 50 …

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EU Commission projects recession in Greece at 9% in 2020

The Greek economy is projected to contract by 9% this year and to grow by 6% in 2021, the European Commission said in its Summer Economic Forecast report released on Tuesday. The EU executive said that Greece’s GDP declined by 1.6 pct in a quarterly basis in the first quarter …

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EU Commission issues roadmap to lifting coronavirus containment measures

The European Commission had issued a so-called “roadmap” to lifting coronavirus containment measures. It calls for coordinated lifting of the lockdown measures across the European Union. Stressing that “timing is essential, The Commission recommendations include that actions should be gradual, that internal border controls to be lifted in a coordinated …

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Greece largely satisfied with EC’s 5th Enhanced Surveillance Report

Finance Minister Christos Staikouras expressed his satisfaction  over the European Commission’s 5th Enhanced Surveillance Report on Greece. However, he stressed that “efforts need to be accelerated in order to tackle endogenous and external risks, achieve viable and sustainable growth, create more and good jobs and further stimulate social cohesion. The …

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EU Commission warns Greece relief measures “a risk for agreed primary surplus”

The European Commission released the European Semester 2019 Spring Package with recommendations for all Member States in order to advance sustainable and inclusive economic growth. On its 7-page long report on Greece, the Commission notes that “Greece is currently in the preventive arm of the Stability and Growth Pact and …

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EU Commission warns Greece over waste management on Corfu

The European Commission has sent a stern warning to Greece claiming it is violating European Union environmental laws with regard to waste management on the Ionian island of Corfu. “The Commission is calling on Greece to ensure that EU waste legislation is implemented on the ground in Corfu Island,” the …

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Tsipras: EU Commission approved Greek budget without pension cuts

The European Commission has approved Greece’s first post-bailout draft budget without requiring the implementation of legislated pension cuts, the Greek prime minister said on Saturday. “The European Commission approved the Greek budget without pension cuts after eight years of austerity,” Tsipras said, calling the development a “success”. There has been …

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European Commission releases data on Funds to Greece to deal with Migration

The European Commission has published a list of recipients of funds to Greece to deal with the migration crisis. An amount totaling 1.6 billion euros has been allocated to non-governmental organizations, international organizations and Greek authorities, even though only half of it has been disbursed. The Commission released €650 million …

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