ECONOMY

Greek state hostile to entrepreneurship, says Boutaris in wake of Eldorado decision

greek-state-hostile-to-entrepreneurship-says-boutaris-in-wake-of-eldorado-decision

Greece must shed its skeptical stance toward private entrepreneurship Thessaloniki Mayor Yiannis Boutaris has said following a decision by Canadian mining company Eldorado Gold to suspend work at a site on the Halkidiki peninsula and lay off 600 workers.

“The Eldorado Gold incident is a sign of state bureaucracy hostility to entrepreneurship,” Boutaris said during a speech at the Athens Stock Market adding that debt-hit Greece should instead be taking measures to facilitate private investment.

On Tuesday, the Canada-based company said it was halting operations at a gold mine at Skouries, one of four major Greek sites where the company is involved, following protests by local residents and a spat with the SYRIZA-led government. The company's CEO said a further 500 jobs were also likely to be cut later in the year.