World Economy

Greece Facing Real Difficulties

Greece Facing Real DifficultiesGreece Facing Real Difficulties

Economy Minister Giorgos Stathakis admitted that although the first bailout program evaluation was successful, there are still thorns ahead that the government will face in September, NewsNow reported. Stathakis made the statement in the Greek Parliament during talks on the new development law the government is trying to pass.  He was referring to the changes in labor laws that creditors demand as prerequisites for the second bailout program review due in September. “We need a fair development law in order to pull the country out of the crisis and distribute the benefits equally to all social groups,” he stressed.  Stathakis said that the government’s development program will be based on a skilled and educated workforce and the production of high value-added products and services. The minister accused previous governments for implementing development laws that froze 6,000 investment projects that would bring €6.5 billion ($7.29 billion) to the economy.  Stathakis promised that the government will accelerate the process of evaluating investment projects and after that the projects will be completed within three to five months.