Greece welcomes EC package proposal

Greece on Wednesday welcomed a plan proposed by the European Commission to disburse 750 billion euros in grants and loans to European Union countries to help them recover from the economic impact of the coronavirus.

Under the proposal, Greece is expected to receive 32 billion euros from the new recovery fund over three years - 22.5 billion in grants and 9.4 billion in loans.

The total amount is equivalent to almost 1/6 of the country's gross domestic product in 2019.

"We welcome the Commission's bold proposal for a package of €750 billion, mainly in the form of grants funded via joint debt issuance. The bar has been set high. Now it's up to the EU Council to rise to the occasion," Prime Minister Kyriakos Mitsotakis said on his official Twitter account after the relevant announcement was made by Commission President Ursula von der Leyen. 

Soon after,...