Ministries announce support measures for Thomas Cook affiliate businesses in Greece

The government’s measures for the support of workers and businesses in Greece’s tourism industry affected by the bankruptcy of industry giant Thomas Cook were announced on Saturday, after a three-hour inter-ministerial meeting of the Finance, Labor and Development ministries. 

Concerning employees, it was announced that the number of required insurance stamps for the payment of unemployment benefit is reduced from 100 to 80, while said benefit will be paid out one extra month. 

These measures will apply to workers who are prematurely fired by companies affiliated with Thomas Cook, as per the ministerial announcement. 

At the same time, the Hellenic Manpower Employment Organization (OAED) will launch a special job support program so that affected businesses may not need to let workers go.

Concerning a liquidity boost, the relevant ministries announced a 6-month suspension of the VAT payment deadline, and which applies to companies with more than 25 pct of their turnover coming from Thomas Cook customers. 

The Hellenic Development Bank (HDB) is also reportedly working out a support plan for companies affected by Thomas Cook’s shutdown.

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