Businesses closing, hundreds of jobs lost daily

According to the announcement of the Greek Confederation of Commerce and Entrepreneurship there should be an agreement with creditors immediately, otherwise the economy will not be able to function.

The Confederation says that the market is at a standstill, the liquidity injections can not revive it and it needs a “transfusion" of at least 25 billion euros to reboot after losses in the first five months will hardly be replenished in 2015. Indeed it recalls that during the last five years turnover in retail trade dropped -26.2%, -37.1% in wholesale, and in and car sales by -61.9%. The current account surplus was marginally positive by 0.9% of GDP in 2014, with imports and exports of goods showing a rise of 4.7% and 4.9% respectively.

The official position of the Confederation is to do away with the four-month standstill of the market by the “No Deal, No Grexit” strategy, replacing the content of the original agreement "money for debt and support for the country” with the economic strategy "money for the narket and development for the country."

The Confederation lists in its communique a range of data showing the problem created in the market. Regarding the liquidity in the market, 95% of the requests for loans from commercial banks are rejected daily, and now only 1 in 10 small business loan requests are approved by systemic banks.