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Refugee Crisis Creating 'Significant Problems' for Greek Economy

  • Reuters

Refugees and migrants sit outside their tents at the Athens' port of Piraeus on March 10, 2016.

Refugees and migrants sit outside their tents at the Athens' port of Piraeus on March 10, 2016.

Europe's refugee crisis is posing risks for the Greek economy and the country needs substantial help to deal with the migratory flows, the Organization for Economic Cooperation and Development (OECD) said on Thursday.

"The refugee crisis creates significant problems for the Greek economy and growth," OECD Secretary-General Angel Gurria told reporters after meeting Prime Minister Alexis Tsipras in Athens.

"Greece needs to receive substantial support to deal with this new challenge. No single country can address this challenge on its own," he said in comments translated into Greek.

Gurria projected zero growth for the Greek economy this year and a 1.9 to 2 percent GDP increase in 2017.

Tsipras said the economy would return to growth in the third quarter of this year and cautioned that Europe's migrant crisis could have a fiscal impact.

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