Eurofound's EU PolicyWatch collates information on the responses of government and social partners to the COVID-19 crisis, the war in Ukraine, rising inflation, as well as gathering examples of company practices aimed at mitigating the social and economic impacts.
Factsheet for measure GR-2020-10/282 – Updated – measures in Greece
|Country||Greece , applies nationwide|
|Time period||Temporary, 01 March 2020 – 31 July 2021|
|Type||Legislations or other statutory regulations|
Supporting businesses to stay afloat
– Direct subsidies (full or partial)
|Author||Elena Kousta (INE GSEE) and Eurofound|
|Measure added||04 April 2020 (updated 16 November 2021)|
According to Legislative Act 11.03.2020/2020, Legislative Act 20.03.2020/2020, art.46 L.4683/2020, Art. 4 L. 4690/2020, Art.15 - L.4690/2020 & Α.1135/2020 as amended by A.1146/2020 & Α.1164/2020 , the following measure (in accordance with other legislative measures) was announced for dealing with the potential economic effects of the coronavirus spread (COVID-19) and the support of the economy and entrepreneurship. As such, from March until August 2020, rent will be reduced by 40% for all businesses the activities of which have been suspended by state decree and for individuals working at such businesses (or their spouse or the other party of a partnership agreement) but only when the home is their primary residence or as student residence for their dependent members.
By virtue of the Legislative Act 11.03.2020/2020, Legislative Act 20.03.2020/2020, art.46 L.4683/2020, Art. 4 L. 4690/2020, Art.15 - L.4690/2020 & Α.1135/2020 as amended by A.1146/2020 & Α.1164/2020, enterprises, whose operation has been mandatorily suspended or temporarily interrupted based on special and extraordinary measures taken for precautionary or repressive purposes in relation to the coronavirus spread, shall be exempted from paying 40% of the total amount of rent due for the months March till August 2020 for the commercial premises that they lease (i.e. they can pay only 60% of their rent, in derogation from the legal provisions on leases).
Stamp duty and VAT shall be re-calculated and remitted on the amount of rent that will result following the above partial payment; The above exemption shall also apply in cases of financial leases of movable or immovable assets intended exclusively to be used for business purposes by the above mentioned enterprises. The following measure (in accordance with other legislative measures) was announced for dealing with the potential economic effects of the coronavirus spread (COVID-19) and the support of the economy and entrepreneurship. The above exemption shall also apply for residential leases that concern the primary residence of lessees who are employees (or their spouse or the other party of a partnership agreement). Of the above mentioned enterprises, on condition that the employment relationship was already in effect at the time the special and extraordinary measures for the suspension or temporary interruption of the enterprise’s operation were imposed.
The provision applies to 210,000 companies, employing 500,000 people full-time or part-time, that were and remain closed on 16 December 2020, due to the lock down. At the same time, the 600,000 companies affected by the crisis, will continue to pay a reduced rent of 40%.
|Applies to all workers||Applies to all businesses||Applies to all citizens|
Social partners' role in designing the measure and form of involvement:
|Trade unions||Employers' organisations|
|Role||No involvement||No involvement|
|Form||Not applicable||Not applicable|
Social partners' role in the implementation, monitoring and assessment phase:
No available answer.
Eurofound (2020), Reduced lease payments for commercial leases and primary residences as well as for financial lease, measure GR-2020-10/282 (measures in Greece), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/GR-2020-10_282.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.