No extension will be granted to the final August 2026 deadline for submitting requests for financing from the Recovery and Resilience Fund, the European Commission’s Deputy Director-General for Economic Affairs Declan Costello warned in Athens, thereby sounding the alarm for the acceleration and intensification of the relevant efforts.
At the same time, the Irish former head of the Commission’s mission in Athens, within the framework of the bailout “troika,” said that despite the progress, there is scope for Greece to accelerate its efforts for convergence with the European Union, given that the standard of living is lower by approximately one third than the EU average.
Regarding the Recovery and Resilience Fund, in the remaining 18 months, Greece is called upon to cover 240 milestones – i.e. approximately two thirds of the total – in order to absorb the remaining 18 billion euros which it is entitled to.
“It is a difficult deadline that must be respected,” said Costello at an event of the European Commission and the Foundation of Economic and Industrial Research (IOBE) on Wednesday, following contacts with the competent Greek authorities.