Greece Economic Situation - Update

Dear all,

We are communicating with you in a way of brief up-date of the economic situation in Greece, the impact on the daily life of the destination and what this practically means to the holiday-makers.

On July 12th the negotiations between the Greek Government and EU concluded successfully to agreement for a third bailout package that will ensure the further presence of Greece within the Eurozone, the stability of the Greek banking system and the long – term growth potentials of the Greek economy.

On July 15th this agreement was confirmed by the Greek Parliament.

This bailout package includes many austerity measures that will consequently reduce further the income of Greek citizens and make the recession even more intensive in short - term, it is however understood that is was inevitable in order to maintain the country`s financial stability.

As a result as from today all banks are again open in full operation, maintaining only some capital controls for the locals. All tourists however are not affected by this, as they can use their credit and debit cards without limitation both in the ATMs as well as in the POSs.

All shops and fuel stations, are in full operation, having full supplies, accepting payments in credit cards and all Public and Private Services in all sectors are provided without any problem, as they were anyway before and during the bank Holiday.

Hotels are operating without any problem, having adequate supplies to cover all guests’ requirements.

Everyday life is back to normal. Greece remains one of the top holiday destinations in terms of safety, quality of services and competitiveness.

The past 5 years have been very difficult for all Greek citizens and is expected to take some time until the difficulties are behind. It is recognized by everybody that tourism is the main source of income and everybody is directly or indirectly benefited from every guest visiting our country.

We would like to warmly thank all our partners for their support during the last weeks and especially the travelers that actively showed their trust by visiting our country.


With kind regards

Michalis Vamiedakis

Chairman & CEO
Greco – Deltanet Services S.A.

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Travel Destinations to Greece