Athens to ask for more time to use EU finding

The government is about to submit a request for the European Commission to extend the deadline of the previous community support framework (2007-13, which runs until the end of this year, having already received a two-year extension) by six or 12 months. It will also request a 2-billion-euro increase in the funds allocated to Greece in the next program (2014-20).

The government’s aim, as expressed on Thursday by caretaker Economy Minister Nikos Christodoulakis, is for the full utilization of all resources available to help mobilize investment.“The support of the private sector is the only way for the country to overcome its crisis,” he emphasized.

Christodoulakis went on to set the lifting of the capital controls by year-end as a key priority, through gradual moves such as those implemented on Thursday, which included the easing of restrictions on international online transactions and allowing new students to open bank accounts.