Georgian Economy Minister: Greek Referendum Impacts on Georgia

The Greek people rejected proposals put forward by international creditors on further spending cuts and tax increases in Sunday’sreferendum, with the interior ministry confirming a 61% no vote.

Georgia’s Minister of Economy and Sustainable Development Giorgi Kvirikashvili meanwhile announced that the Greek referendum results will “inevitably” have an impact on Georgians, and Georgia.

He highlighted that money transfers for the first five months of 2015 from Greece have decreased by approximately $15-16 million compared with the same period of last year.

According to the Minister, if a mid-term negative trend emerges in the Greek economy, Georgians working there will become unemployed, which will have a negative impact on their homeland.

Greece is thought to have one of the largest populations of Georgian expats in Europe although official figures are unclear.

Officially, according to the Georgian Consulate in Greece, there are just over 15,000 Georgian nationals living in the cities of Athens and Thessaloniki. However, the total amount of Georgians living in Greece, legally or otherwise, is estimated at around 200,000.

President of the European Council Donald Tusk has convened a special Euro Summit today at 6pm to discuss the consequences of the Greek referendum.

“I believe that we should urgently meet at the highest political level to discuss the situation and find possible ways forward. I have also invited the President of the European Central Bank and the President of the Eurogroup to join us,” Tusk said.

Tamar Svanidze