NEWS

PM urges banks to provide liquidity to coronavirus-hit businesses

Photo: PM's office/Dimitris Papamitsos

TAGS: Banking

Prime Minister Kyriakos Mitsotakis discussed how banks can infuse liquidity into the Greek economy following the coronavirus pandemic at a Tuesday video conference with key ministers, the governor of the Bank of Greece and bank executives.

Mitsotakis said that the survival of coronavirus-afflicted businesses is the government's primary concern and banks that have been aided by the state must channel liquidity to Greek businesses, regardless of size.

"We need to absorb the shocks as best we can and lay the groundwork for a dynamic restart," he said.

They also discussed how the new European financial instruments can be best utilized to increase liquidity after the negative impact of the pandemic's first wave.

Bankers estimated that approximately 16 billion euros of support funds can be directed into the Greek economy in the rest of 2020. 

[ANA-MPA]

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