Tuesday September 2, 2014 Search
Weather | Athens
29o C
23o 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)  
Nicosia disappointed at Erdogan´s two-state solution comments
Giorgos Stylios named new deputy education minister
Greek singer-songwriter Antonis Vardis dies aged 66
Red tape cut in application process for Greek ID cards
Deadline looms for struggling Cyprus Airways
Potential buyers of Cyprus Airways have until Wednesday to submit nonbinding offers for the loss-making national carrier, with Ryanair and Aegean Airlines in the running. Ireland’s budget ca...
Bank of Cyprus expects to relist on Nicosia, Athens exchanges
Bank of Cyprus, the Cypriot lender which recapitalized last year using depositors’ savings, said late on Monday it expected its shares to relist on the Cypriot and Athens stock exchanges by ...
Inside Business
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the people’s favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Deadline looms for struggling Cyprus Airways
2. Bank of Cyprus expects to relist on Nicosia, Athens exchanges
3. Nicosia disappointed at Erdogan´s two-state solution comments
4. Giorgos Stylios named new deputy education minister
5. Greek singer-songwriter Antonis Vardis dies aged 66
6. Red tape cut in application process for Greek ID cards
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Moderating expectations
6. Trial over 2013 murder of pawn merchant starts in Athens
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Attack on gay couple in Athens leaves one man needing surgery
4. Strong undersea quake occurs off island of Milos, felt in Athens
5. Hardouvelis, ECB executive discuss bank program, stress tests
6. Greek quest for debt relief faces hurdles in Paris
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.