Bloomberg
May 20, 2011
Greece plans to freeze rents for theaters and cinemas and cut them for state-owned hotels to provide relief as the economic crisis curtails profits, Economy and Competitiveness Minister Michalis Chrisochoides said.
“The crisis and recession are trying on the real economy,” Chrisochoides said at a presentation in Athens yesterday, according to an e-mailed transcript of his remarks. “We are implementing policies that can give immediate practical solutions to small and medium-sized businesses.”
The government plans to extend leases by 12 years, cut rents paid by 204 hotels by as much as 20 percent and freeze rents for 500 theaters and cinemas for five years, he said.
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