Industrialists call for flexibility

Greece will have to restructure its production model after the coronavirus crisis has eased so that it does not depend on tourism and small and medium-sized enterprises to such a great extent, the Hellenic Federation of Enterprises (SEV) argues in its monthly bulletin.

It adds that, in that regard, the government ought to proceed with reforms and reduce energy and non-salary costs.

SEV argues that "if things evolve the way the European Commission forecasts" - more than doubling the consumption reduction rate that Athens estimates - "the government will need to take measures compatible with a far greater recession than it expects.

As fiscal policy is unable to carry the burden of offsetting such a deep recession, the economic strategy should become more flexible in its quest to protect employment with the smallest income losses possible."

Therefore...