Greece eyes EU money after deadly floods damages reach €2.5 billion

Greece eyes EU money after deadly floods damages reach €2.5 billion | INFBusiness.com

Greek Prime Minister Kyriakos Mitsotakis has asked the EU to provide significant financial assistance after floods, which, so far, cost the lives of 15 citizens and caused financial damages of up to €2.5 billion.

Several villages on the Thessalian Plain have been completely devastated by floods, as well as crops and livestock.

So far, 15 people have been found dead, while according to first estimates, the financial disaster is calculated at around €2.5 billion.

Mitsotakis has already sent a letter to EU Commission chief Ursula von der Leyen seeking the “maximum possible” financial aid from the EU.

Before a meeting with von der Leyen on Tuesday in Strasbourg, the Greek leader said, “Europe must stand by our country […] we demand from Europe to rise to the occasion”.

Greek media reported that Athens eyes three possible EU resources: The EU Solidarity Fund (EUSF), the Recovery Fund, and a loan from the European Investment Bank “on very favourable terms” to unlock interventions in infrastructure projects that have suffered enormous damage.

Von der Leyen, who may seek to re-run for the EU Commission Presidency after the June 2024 elections and will need national leaders’ backing, will likely honour Greece’s request, although significant flexibility should be shown in Brussels’ bureaucratic EU funds system.

The ‘Executive State’ drowned

But the government’s shortcomings in handling such natural disasters after the deadly wildfires last summer will not be alleviated easily with EU money.

Documento journal reported that just €938,000 out of a total of €187.63 million have so far been disbursed from the EU Recovery Fund for civil protection and climate change projects.

The same journal published pictures over the weekend showing the helicopters, responsible for rescuing people in such crises, on the ground because their air base was submerged.

The relevant state authorities claimed that these helicopters had not been operational “for years”, but the journal published new pictures showing some of these helicopters being operational as part of an exercise in November 2022.

Public anger has grown significantly as the centre-right New Democracy government has not delivered its main promise for a so-called “Executive State”, which was supposed to represent the optimal state for problem-solving and learning.

Anti-government media also reported that the Greek executive ignored the 2019 relevant warnings of the European Commission regarding the delay in implementing the Flood Risk Plans.

(Sarantis Michalopoulos | EURACTIV.com)

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