
Greece is expected to receive aid through the EU’s emergency support fund for natural disasters “and more”, Economy Commissioner Paolo Gentiloni said earlier today.
Asked how soon the EU financial aid will arrive, Paolo Gentiloni said that some funds will be available already this year, but in a limited way, but next year the aid will be much more substantial.
Speaking ahead of tomorrow’s meeting between the Greek prime minister and the president of the European Commission, Mr. Gentiloni replied that there is an EU emergency fund to support countries affected by natural disasters (European Solidarity Fund).
As he explained, the member states affected by a natural disaster are required to report the amount of the estimated financial damage within three months. “I am sure that the European Commission will try to support through this emergency support fund, but not only through this, Greece’s efforts to face this new crisis,” said the Economy Commissioner. As he noted, Greece faced fires and floods this summer – “phenomena which unfortunately bear witness to the extreme weather crisis we are facing”.
Meeting in Strasbourg tomorrow
Tomorrow the president of the Commission, Ursula von der Leyen will discuss with the Prime Minister Kyriakos Mitsotakis in Strasbourg the details of the aid to Greece, said the deputy representative of the Commission, Dana Spinad. He added that Athens has not made a specific request for the civil protection mechanism (apart from the “Copernicus” system), but the Greek prime minister made an overall request for European assistance from different resources and tools.
“We are in discussions with the Greek authorities and the Greek Prime Minister wrote to the President at the end of last week, for financial support, any kind of assistance that the Commission could provide to Greece to deal with the impact of the floods” noted Mrs. Spinad and he added: “Tomorrow in Strasbourg, the president will meet with the prime minister of Greece to discuss precisely the details of the aid that the Commission is preparing to support the country.”


Latest News

Trump Tariffs Jeopardize Growth: Piraeus Chamber of Commerce
The tariffs, aimed at reducing the U.S. trade deficit, are expected to have both direct and indirect effects on the European economy

EU Condemns Trump Tariffs, Prepares to Retaliate
As tensions escalate, the EU is expected to continue negotiations with Washington while preparing for potential economic retaliation.

The Likely Impact of Trump Tariffs on Europe and Greece
Trump tariffs are expected to negatively affect economic growth in the Eurozone while Greece's exports could take a hit.

Motor Oil Results for 2024: Adjusted EBITDA of 995 mln€; Proposed Dividend of 1.4€ Per Share
Adjusted EBITDA for 2024 was down 33% yoy. The adjusted profit after tax for 2024 stood at 504 million euros, a 43% decrease from the previous year

Cost of Living: Why Greece’s 3% Inflation Is Raising Alarm
Greece appears to be in a more difficult position when it comes to price hikes, just as we enter the era of Trump’s tariffs.

Fitch Ratings Upgrades the Four Greek Systemic Banks
NBG’s upgrade reflects the bank’s ongoing improvements in its credit profile, Fitch notes in its report, including strong profitability, a reduction in non-performing exposures (NPEs), and lower credit losses

Trump to Announce Sweeping New Tariffs Wednesday, Global Retaliation Expected
With Trump's announcement just hours away, markets, businesses, and foreign governments are bracing for the fallout of one of the most aggressive shifts in U.S. trade policy in decades.

Inflation in Greece at 3.1% in March, Eurostat Reports
Average inflation in the eurozone settled at 2.2%, compared to 2.3% in February

Greece’s Unemployment Rate Drops to 8.6% in February
Despite the overall decline, unemployment remains higher among women and young people.

Jerry Kalogiratos Highlights Key Role of Energy Transition and Data Demand in LNG Outlook
Energy transition and the prospects of LNG were discussed at Capital Link’s 19th Annual International Maritime Forum, during a panel discussion with Jerry Kalogiratos (Capital Clean Energy Carriers Corp.)