Mitsotakis pledges to slash spending at New Democracy

3 March 2016
720 Views

New Democracy leader Kyriakos Mitsotakis pledged on Thursday to put the party’s finances “in order.”

The conservative chief held a news conference to announce that he would be slashing spending at ND so it could meet its debt obligations.

He said the party currently owes 214 million euros, mainly in bank loans. New Democracy’s annual spending stands at 8.2 million euros, while its revenues for this year are seen at 4.2 million.

“Sixty percent of revenues go towards paying off debt, which leaves 1.8 million euros to cover annual expenditure,” he said. “New Democracy has to adjust to this new reality.”

You may be interested

All retail stores to open on Monday in Greece
GREECE
shares33 views
GREECE
shares33 views

All retail stores to open on Monday in Greece

makis - Jan 15, 2021

The Expert infectious disease team has proposed opening retail stores nationwide from Monday via the ‘click in shop’ method, while…

Hellenic Air Force: How low can you go?
DEFENCE
shares47 views
DEFENCE
shares47 views

Hellenic Air Force: How low can you go?

Panos - Jan 15, 2021

In the last few days a video from an Helenic Air Force Base has gone viral. It demonstrates the level…

How Fast Is 5G? (infographic)
GREECE
shares46 views
GREECE
shares46 views

How Fast Is 5G? (infographic)

Panos - Jan 15, 2021

As Apple is getting ready to ship the new iPhone 12 this week, much has been written about the new iPhones’ standout feature: 5G.…

Leave a Comment

Your email address will not be published.