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COVID-19 worries Greek consumers about financial future | Greece, economy




ATHENS – As bank deposits rise due to two lockdowns totaling 20 weeks in the past 10 months, the COVID-19 pandemic still worries Greek consumers about their spending and income and the precariousness of the economy from the country.

Prime Minister and New Democracy leader Kyriakos Mitsotakis had accelerated a slow recovery after a nearly decade-long crisis worsened by austerity following the August 20, 2018 end of three $ 326 billion international bailouts euros ($ 397.01 billion) that will take decades to repay. .

A survey by the Business and Retail Sales Association of Greece (SELPE) found that consumers expect their disposable income to decline further, leading them to limit their spending, resulting in further losses for consumers. companies already in difficulty.

Restaurants, bars and taverns have been among the hardest hit and many are unlikely to survive, as the government has said, even as the lockdown raises stringent health measures could remain in place, likely to ban meals indoors in winter.

Retail consumer confidence in December 2020 was rated at minus 39 points, with just 12% of respondents expecting the country’s economy to improve in the next six to nine months, and just eight percent seeing improvement in their finances.

The survey, conducted with the help of ELTRUN, the Athens University’s online commerce lab for economics and commerce, also found that 70% of those surveyed spend all their disposable income every month, alive from one check to another and hang on.

Another 9% said they spend more than they earn, indicating that they borrow or tap into other resources because there are concerns that unemployment will rise soon as well, which causes anxiety.

Cranky Erdogan shoots Greece again after maritime talks fiasco

TNH staff

A day after a communications blackout that saw reports that Greece and Turkey would hold exploratory talks after four years – this time over claims over the Aegean Sea and the Eastern Mediterranean – only to collapse, the Turkish President Recep Tayyip Erdogan started shooting again.

It has repeatedly dispatched an energy research vessel and warships off the Greek island of Kastellorizo, to withdraw them whenever the European Union has said it will consider sanctions demanded by the Prime Minister Kyriakos Mitsotakis.

With the bloc ready to discuss the prospect in March, the media said there had been a breakthrough and the two sides would sit down – in Ankara, not Athens – on their competing claims to the seas.

After Greece denied that was the case, catching the United States by surprise as the State Department welcomed the talks that are not yet scheduled, Erdogan blamed Greece for all the problems.

While he constantly sent fighter jets and warships to violate Greek airspace and waters, Erdogan accused Greece of increasing tension over the Battle of the Seas, calling on the government to Mitsotakis to “cease its activities … such as” airspace violations and illegal actions on the issue of the islands. “

Addressing a meeting of European Union ambassadors in Ankara, Erdogan repeated earlier comments by Turkish Foreign Minister Mevlut Cavusoglu, stating that “some EU member states have tried to resolve their bilateral differences in the corridors of the EU, ”said Kathimerini.

“They took advantage of the EU agenda and hid behind the solidarity of member states,” said the Turkish president in what is seen as a reference to Greece as well as to Cyprus, where Turkey has drilled oil and gas offshore.

He said Turkey had been “wronged” in the Eastern Mediterranean and Cyprus and “does not accept efforts to trap us on our shores”, falling back on its usual tactics of verbal warfare.

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