OUTBREAK OF THE CORONAVIRUS AND POLICY RESPONSE Sample Clauses

OUTBREAK OF THE CORONAVIRUS AND POLICY RESPONSE. The outbreak of the Coronavirus has fundamentally altered the social and economic reality in Greece, as in most other Member States. The Greek government started implementing measures aimed at containing the spread of the Coronavirus already at the end of February by increasing the intensity of the containment measures: Following the initial localised measures, all education institutions were closed on 11 March. On 13 March, the operation of cafes, bars, museums, shopping malls, sports facilities and restaurants was suspended and as of March 18, all retail businesses as well as church services have been closed, followed by the closure of hotels on 19 March. On 23 March, Greece went into the strictest phase of containment measures, banning all non-essential movement, with only business deemed essential remaining open such as supermarkets, bakeries pharmacies and private health services. These relatively swift and compared to other euro area countries strict measures seem to have slowed down the spread of the Coronavirus pandemic in Greece. Greece registered 2,744 cases and 152 deaths until 12 May 2020. This has also limited the strain on the Greek healthcare system so far, where Intensive Care Unit capacities and ventilators have been increased where possible. The containment measures are being slowly lifted since early May according to a stepwise plan, with gatherings of people and the operation of restaurants, cafes and bars remaining restricted for longer. Travel restrictions are expected to remain in place until the end of June or early July. The containment measures have severely affected economic activity with a third of private sector employment directly affected in March and April. The latest Economic Sentiment Indicator (ESI), registered a drop from 113.2 index points in February before the start of the containment measures to 99.3 in April and the Purchasing Managers Index (PMI) declined from 56.4 in February to 29.5 in April. New hiring dropped by 53% in March compared to February 2020 and 83% compared to April 2019, but at the same time redundancies also decreased by 71% compared to March and by 81% compared to April 2019 indicating a freeze in the labour market. The authorities promptly adopted a set of income support and liquidity measures of a large scale. To mitigate the economic and social impact, a broad range of budgetary measures were undertaken aiming to support households and businesses while additional measures were adopted to provide...
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