EU Official: Hellinikon Investment a “Symbol of Mismanagement and Delay”

The Hellinikon investment project is a “symbol of mismanagement and delay,” said a European Commission official on Thursday, according to a Kathimerini newspaper report.

The EU official briefed journalists before Monday’s meeting of eurozone finance ministers in Brussels. Even though Greece is not on this Eurogroup agenda, the issue of the hurdles put in the investment project at the former Athens airport in Hellinikon, was mentioned during the briefing.

The EU official called the situation at Hellinikon a “symbol of mismanagement and delay”. Greece would have tremendous benefits from unlocking this case, much larger than the investment itself, he added.

The statement came after Greece’s Central Archaeological Council (KAS) decided to declare 300 acres of the area as an archaeological site. The decision is creating some problems since in some of the points that were marked as being of archaeological interest the investors were planning to build upon.

“The Commission agencies are aware of the situation and are taking into consideration the KAS decision. The Greek authorities are committed, under the terms of the Memorandum of Understanding, to take the necessary measures to promote the Hellinikon development project, which is a key investment for job creation and growth,” the official said.