Greece is facing “two simultaneous crises” on an economic and humanitarian level, the president of Greek opposition party New Democracy has told CNBC Wednesday, expressing doubt that the latest proposals by the EU and Turkey to halt the flow of migrants would work.
“On the economic front we are struggling to meet our commitments and this government seems incapable of returning the Greek economy to a sustainable growth path. And at the same time we are faced with an unprecedented crisis on the migration side,” Kyriakos Mitsotakis said.
Greece received over a million refugees and illegal migrants over the last year, he said, reiterating calls for the country’s European neighbors – many of whom have closed borders with Greece to prevent migrants from travelling to northern Europe and effectively leaving them stranded in Greece – to do more to help.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Craig Erlam
Latest posts by Craig Erlam (see all)
- European open – Trade War, Fed, Italy, Gold, Oil - 08/21/2019
- European update – Jackson Hole, gold, oil - 08/20/2019
- European open – trade war, gold, oil - 08/19/2019