Recovery plan will meet EU priorities not Greek needs

Significance

The plan, otherwise known as Greece 2.0, is reportedly the most detailed national plan EU officials have yet seen. It contains 175 investment projects and reforms. Green transition and digital transformation, the main priority areas, are allocated 38% and 22% of future grants, slightly above the EU required levels.

Impacts

• In addition to growth, Greek society is to be transformed, with technological advancement, new attitudes and institutions.
• Despite the large financial stimulus, the economic divide between Europe’s north and south is likely to widen in coming years.
• Loans issued exclusively to the private sector will not increase Greek public debt.