Major Works At Faliro & Panepistimiou Excluded By Commission As Superfluous

The European Commission had decided to reject NSRF funding for two major projects in Athens, the first being the pedestrianization of Panepistmiou Street in the heart of the Greek capital, and the second being the renovation of the Faliro coastline.

It is believed that these two projects were rejected since they are considered cosmetic and superfluous. On its part the Ministry of Infrastructure maintains that the plans for the projects are going to be revised in order to highlight the financial and environmental sustainability and growth potential for tourism.

The good news is that other major projects were approved. Specifically the water supply of Corfu, expanding the suburban railway as well as metro networks in Athens and Thessaloniki and the construction of a waste management sites.

The above projects are expected to generate at least 32,000 jobs in the transport industry and a further 50,000 in the environmental sector.