Gov’t spokesman: Greece to invest its share of the EU Recovery Fund ‘prudently and responsibly’

Greece will invest, not spend, its share of the EU Recovery Fund “prudently and responsibly,” government spokesman Stelios Petsas said on Wednesday, in response to the proposal announced by European Commission President Ursula von der Leyen to offset the economic shockwave of the Covid-19 pandemic in Europe.

“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.”