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-2021-27/2018 – measures in Greece
|Country||Greece , applies nationwide|
|Time period||Temporary, 01 July 2021 – 31 December 2021|
|Type||Other initiatives or policies|
Supporting businesses to stay afloat
– Direct subsidies (full or partial)
|Author||Elena Kousta (INE GSEE) and Eurofound|
|Measure added||05 October 2021 (updated 16 November 2021)|
The European Commission has approved a Greek scheme to provide support for non-covered fixed costs to companies affected by the coronavirus outbreak. The scheme was approved under the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak, and has an estimated budget of up to €500 million. Greece plans to provide economic assistance to all companies, irrespective of their size and their sector (only the financial one is excluded), in the form of a credit to be used for the payment of tax and social security obligations that are due from 1 July 2021 to 31 December 2021.
On 27 August 2021, the European Commission announced the approval of a Greek scheme, under the Temporary Framework State aid, to support the uncovered fixed costs of companies affected by the coronavirus outbreak The scheme has an estimated budget of up to €500 million.
Under the scheme, Greece plans to provide financial support to companies in order to cover liquidity shortages associated with the coronavirus outbreak and, therefore, to maintain the continuity of their economic activity, during and after the pandemic.
All companies are eligible, regardless of their size and the sector in which they operate (with the exception of the financial one), to receive the credit in order to pay tax and social security obligations that are due from 1 July 2021 to 31 December 2021.
The measure will support, as such, companies affected by a reduction in monthly turnover between April 2020 and December 2020 by at least 30% compared to the corresponding period of 2019, helping them to cover the losses suffered during that period. The aid will cover up to 70% (90% in the case of micro and small enterprises) of their fixed costs not covered by revenue. The total amount of aid will not exceed €10 million per company.
In addition, companies that started their activities after 1 January 2019 or established new branches from 1 April 2019 to 31 December 2020, including those providing bus services in Greece (the so-called KTEL companies), will be eligible for assistance under the scheme up to €225,000 per company active in primary agricultural production, €270,000 per company active in the fisheries sector and €1.8 million per company active in all other eligible sectors.
All companies are eligible, regardless of their size and the sector in which they operate (with the exception of the financial one). There is no further information on specific estimations for the number(s) of beneficiaries -workers, companies, self-employed.
|Does not apply to workers||
One person or microenterprises
|Does not apply to citizens|
EU (Council, EC, EP)
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:
There was no involvement of social partners in designing and implementing the measure.
No available information.
Eurofound (2021), European Commission approves €500 million Greek aid scheme for businesses, measure GR-2021-27/2018 (measures in Greece), EU PolicyWatch, Dublin, https://static.eurofound.europa.eu/covid19db/cases/GR-2021-27_2018.html
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Disclaimer: This information has not been subject to the full Eurofound evaluation, editorial and publication process.