Commission: New Start for Jobs in Greece as 35 bln-euro-plan Gets Underway
The European Commission welcomed on Thursday the signing on Wednesday of the Jobs and Growth Plan for Greece by the European Parliament and by the Council and said the exceptional measures presented by the Commission can now be implemented as soon as Friday.
Greece is set to receive over 35 billion euros already earmarked from the EU budget over the period 2014-2020, with 20.6 billion euros from the European Structural and Investment Funds. The first 800 million euros will be paid next week.
Overall, almost 1.4 billion euros will be released in 2015 and 1 billion euros in 2016, the Commission said in a press release. “These exceptional measures will also allow Greece to spend around 2 billion euros less from its national budget,” it said.
"With the entry into force of the Commission's proposals the EU funds can begin flowing to Greece, starting with a payment of 800 million euros next week. It is investment in the real economy, in people and companies in Greece,” Vice-President for the Euro and Social Dialogue Valdis Dombrovskis said.