Friday August 22, 2014 Search
Weather | Athens
32o C
25o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece sees benefits for youth employments and SMEs after EU leaders' summit

German Chancellor Angela Merkel (left) speaks with Cypriot President Nicos Anastasiades (right) and Greek Prime Minister Antonis Samaras (center) during a European Council summit in Brussels.

Greece’s delegation appeared pleased with the outcome of the European Council on Friday as leaders promised up to 180 million euros to tackle youth unemployment and increased lending from the European Investment Bank (EIB) over the next few years.

“Now, everyone recognizes that growth and employment, along with fiscal consolidation, are fundamentally and inextricably bound and create the only way out of the crisis,” said Prime Minister Antonis Samaras after the European Union leaders’ summit in Brussels ended.

The council conclusions called for the “speeding up and frontloading of the Youth Employment Initiative; speeding up implementation of the Youth Guarantee; increased youth mobility and involvement of the social partners.” The leaders pledged 6 billion euros to tackle youth unemployment. Of this, between 160 and 180 million euros is expected to go to Greece, where almost 60 percent of Greeks aged between 15 and 24 are out of work. Regions where youth unemployment is higher than 25 percent will be prioritized for the funds. All regions of Greece fall in this category. Greece has argued that the size of funds each country or region receives should be linked to the rate of youth unemployment.

Government sources said that the last EU package aimed at tackling youth unemployment led to Greece receiving 155 million euros, which helped fund work places for 45,000 Greeks under the age of 29.

The EU leaders also called for the “mobilization of European resources including those of the EIB; and launched a new ‘Investment Plan’ to support SMEs and boost the financing of the economy.” The European Council said it would like to see the EIB increase its lending activity by 40 percent between now and 2015.

The EIB has identified lending opportunities worth 150 billion euros and the Greek government hopes that local SMEs in particular could benefit from this. It is not clear how much of this funding Greece would qualify for.

The EU leaders also finalized the reduced EU budget of 960 billion euros for the 2014-20 period. This means that Greek farmers will receive up to 18 billion euros in subsidies.

ekathimerini.com , Friday June 28, 2013 (20:15)  
KEELPNO blames stomach bug for sick tourists on Rhodes
KEPs to issue new and replacement driving licenses
EU funds reserved for waste facilities in northern Greece
Coalition mulls property tax changes
Report: Greek banks sturdily positioned
Greece’s banks are on sturdy capital ground, and if any capital injections are needed, the sum should not exceed 3.5 billion euros, Morgan Stanley notes in a new report. Morgan Stanley analy...
Economy stunted by property tax demands, report says
The overtaxation of property is suppressing the potential of an economic recovery, which could have been achieved as far back as the first quarter of 2013 had faulty and detrimental property...
Inside Business
SOCCER
Greek soccer officials in refereeing probe to face prosecutor on Sept 15
Eleven soccer officials were on Wednesday given until September 15 before they have to face prosecutor Aristidis Koreas, who is investigating allegations that the draws to decide which match...
ATHLETICS
Long jumper Tsatoumas takes Greece´s second silver at European Championships
Greece won its second medal at the European Athletics Championships in Zurich, Switzerland, on Sunday with Louis Tsatoumas coming second in the long jump. Briton Greg Rutherford won the even...
Inside Sports
COMMENTARY
Self-destructing political system
It finally seemed as if we had found some peace of mind. The vast majority of Greek MPs chose to abstain from festivities on August 15, also known as Assumption Day, thus sparing us from the...
EDITORIAL
Welcome movement
Many have spoken about the need to spur economic growth in this debt-wracked country, but very few officials seem to actually be doing anything meaningful to make this happen. Recent weeks h...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. KEELPNO blames stomach bug for sick tourists on Rhodes
2. Report: Greek banks sturdily positioned
3. Economy stunted by property tax demands, report says
4. Primary surplus exceeds January-July target figure
5. KEPs to issue new and replacement driving licenses
6. EU funds reserved for waste facilities in northern Greece
more news
Today
This Week
1. Merkel cites euro’s ‘construction flaws’ as economy sputters
2. Brussels warns Greece over plans to allow construction near Korinos beach
3. Second man held over double murder in Mani
4. Avramopoulos in US for talks with Hagel on possible Greek role in peace missions
5. Eurozone business growth slows in July, prices fall: PMI
6. Inspectors visit Rhodes to probe reports of mass food poisoning of hotel guests
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Treating Amphipolis with care
3. Canada’s fiscal adjustment has lessons for Greece
4. Greece to offer law on restructuring bad loans next month
5. Ministry sys ‘no’ to debt collection agencies
6. Karatzaferis eyes ND-LAOS alliance to stop Tsipras
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.