Greece can make it

Business File, November-December 2017, No. 113
BF asks

Dora Bakoyannis
Unfortunately, since 2015 we have paid a heavy bill for experimenting with Alexis Tsipras and Panos Kammenos. The economic situation is worsening and Greece is still far away from becoming a normal European country. Greece is trapped in an extremely low and un- certain growth. The current programme finishes in 2018 and the future is still unknown. Mr Tsipras has talked about a clean exit in the summer 2018. But this is only on paper, as a clean break would mean that Greece restored its autonomy. What clean break are we talking about, if Tsipras has already agreed new measures for 2019-2020? If we really want a clean exit from the current consolidation programme we have to define from now how the next day should be.
Greece needs to return to regularity. It needs a government that will serve the people, not itself. This is exactly what Nea Demokratia will do: our future government will bring Greece and its economy back to normalcy. Our priorities are the following ones:
First, to change the scal policy mix. With less taxes, less spending and a more e ective public sector. Our aim is to cut taxes by 1.9 billion euros over two years in corporate income tax, property tax and the primary sector. We want to broaden the tax base in order to reduce personal income tax, the VAT and the social security contributions. We need to support Greek businesses that have shown remarkable resilience. It is high time to help them and create good paying jobs.
Second, to restore the liquidity of the banking system. We need to help Greek banks to gradually eliminate capital controls and decisively address private debt and NPLs. Our goal is to help them do their job as credit institutions, help all businesses grow and create jobs. This is the only way to support the na- tional economic activity.
Third, we have to take full ownership of the necessary structural reforms in order to implement a national growth strategy that will make Greece a business-friendly country. It is important to ease Product Market Regulation, to remove barriers to investment, and promote privatisations, if we really want to enhance Greece’s competitiveness.
Above all, we need to regain Greece’s credibility. In order to achieve that goal, we have to implement all the necessary structural reforms and sent a clear mes- sage to the international markets that Greece is back again. If we do so, then we will be able to open the discussion for the reduction of the medium-term primary surplus target from 3.5% to 2% of the GDP.
Nea Demokratia is committed to create a strong Greece within a strong Europe. It is necessary to reclaim stability and order. To restore ideals like excellence and ambition. To achieve growth, to attract investments, to create good jobs for our very talented workforce, to show compassion for those in need.
Nea Demokratia is ready to shape Greece’s future for the sake of our children.

Dear Business File reader

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