Editorial Ta Nea: Recognition

Nobody doubts that Greece will be in recession this year but there is no universal agreement on the full depth of it.

Will Greece lose four percent points of its GDP as the most optimistic projections indicate?

Will it have a ten percentage point plunge as the European Commission projects or even worse as some predict?

The response of the Greek economy will be judged largely by the results of tourism this year and next.

If the sector has some movement the recession can be limited, but if it is a dead summer for tourism the loss will be much greater and the repercussions on the whole of the economy will be much more serious.

This is anything but a numbers game

Every percentage point in GDP is hugely valuable in the fight to fend off a devastating blow to the labour market and to the economy more generally.

It is of vital importance to swiftly restart the Greek tourism industry.

One cannot even dream of the record numbers of tourists in recent years but not a day should be lost.

The only way to partially save the summer season is for Greece to persuade people that it is a safe tourist destination and not to jeopardise the international praise and recognition.

‘Greece: Your safe harbor in troubled waters’ is one possible slogan.