Greece’s Eurobank has loaned €750m to Greek hotels and other parts of the country’s tourism sector to help them survive the coronavirus crisis. Getting the industry back on its feet is seen as crucial as its employs nearly 20 percent of the country’s working population. The European Commission estimates that the Greek economy could shrink by 9.7 percent this year. Eurobank CEO Fokion Karavias said that support for the tourism industry was important enough to justify the provision of €250m to overcome short-term liquidity constraints.
