Establishment of a social economy fund was the focus of a meeting on Tuesday at the Maximos Mansion, chaired by PM George Papandreou.

Labour & Social Insurances Minister Louka Katseli presented the proposal,which primarily aims to combat unemployment by subsidising entrepreneurship. Another goal is to extend the tourism season in the country, thereby boosting tourism sector-related businesses.

Additionally, the initiative envisions greater incentives to preserve existing jobs spots in areas with high unemployment.

In later statements, Papandreou appeared optimistic over the economic prospects of both Greece and Europe, adding that Athens reversed the perception of "Greece being the only problem of Europe to now being an active part of the solution".