Energy transition bill at €436 bln

The energy transition of the Greek economy into a "green" one by 2050 will require investments totaling 436 billion euros, according to a government blueprint presented on Friday.

This cost is perhaps the biggest challenge of the revised National Plan for Energy and Climate (ESEK), presented at a special event by the Bank of Greece, with Minister of Environment and Energy Thodoros Skylakakis sending a clear message about the "end of subsidies."

"There is no room for subsidies in this transition. Seven state budgets are not enough. I say this, to be realistic, to those who look at the ESEK and see easy subsidies in it," said the minister. 

He pointed out that "the key is high-yield investments, which require institutions that are healthy to be able to borrow and pay back their investments" and noted that past mistakes should not be repeated. "We paid a lot of...