A new start for jobs and growth in Greece: Commission mobilises more than €35 billion from the EU budget

Two days after an agreement paving the way for a new support programme for Greece, today the European Commission revealed plans to help Greece maximise its use of EU funds. As mandated by the Euro Summit on 12/13 July, this will help mobilise more than €35 billion up to 2020 to support the Greek economy, provided that the conditions agreed upon by the Euro Summit will be met. EU Commission PresidentJean-Claude Juncker said: “Greece has already received more international financing than all of Europe did from the U.S. Marshall Plan after the Second World War. Following Monday’s Euro Summit agreement, the European Commission is willing to step this up even further to help Greece unleash a significant economic rebound and to give the proposed reforms the best chance to work: these €35 billion can help make Greece an attractive location for investment and give hope to especially the younger generation. After at times painstaking months of negotiations, we now need to look to the future. This new start for jobs and growth is the Commission’s contribution. I trust the European Parliament and Member States will play their part so we can unlock the money swiftly.” The Jobs and Growth Plan will help to invest in people and companies in Greece. It is a continuation of the support the Commission has already provided to Greece throughout the crisis, both in terms of financial support and technical assistance. A press release is available here.