Merchants’ associations in Greece call for urgent state-funded 300-mln€ ‘infusion’ to act as working capital

Greece’s merchant associations this week were the latest professional group request a specific stimulus plan to fund “working capital” for the non-durable sector, similar to a similar credit scheme for the food & beverage sector and tourism-related businesses.

Representatives called for a 300-million-euro “injection” towards the retail sector.

The heads of several national and regional merchants’ association on Wednesday said retailers’ losses are 4.5 billion euros alone from the pandemic-related restrictions and lockdown.

Conditions put forth for such support, according to sector reps, would be if businesses operate on a seasonal basis, a verifiable drop in turnover, a ceiling on support per tax code number, and, exclusion of large retailers that remained open during the pandemic or had access to subsidized bank lending.