ECONOMY

PASOK chief Papandreou addresses LSE

PASOK party leader George Papandreou (seated) at the London School of Economics yesterday, where he spoke on domestic and international governance. The Socialists yesterday said the measures announced by the conservative government earlier this week toward supporting the construction industry will fail to do so but will help high-income groups buy second and third homes. On Monday, Economy and Finance Minister Yiannis Papathanassiou said the government will subsidize mortgages and increase tax benefits to boost investment activity and protect jobs in the sector. Greece’s construction sector accounts for about 7 percent of annual economic output and employs some 400,000 workers.