In an announcement released on Wednesday, the president of the Association of Greek Tourism Enterprises (SETE) Andreas Andreadis underlined that, after the announcement of the positive stress tests results, there is no longer any excuse for inadequate financing, at a reasonable cost, of the real economy and the tourism enterprises by the Greek banks.

SETE president noted that the State and the banks must immediately deal with the existing non-performing loans and immediately support sustainable and healthy tourism enterprises by writing off surcharges due to payments in default, extending the repayment period of loans and rationalizing interest rates.

“The total amount of loans to tourism is approximately 6-7 billlion euros, an amount much lower of the annual turnover of the sector,” Mr. Andreadis stressed, adding that “sustainable tourism enterprises, both large and small, are willing to actively contribute in the economic recovery provided that they have sustainable financing solutions for investments in renovations and expansions, and working capital.”