Greece’s largest employers’group, SEV, this week unveiled nine proposals for jump-starting the crisis-plagued Greek economy, what it euphemistically called a «Greek memorandum-Plus».
The proposals by the Federation of Hellenic Enterprises (SEV) came a day after a closely watched Eurogroup meeting in Brussels ended with no progress recorded for the Greek program, and no fixed date on when creditors’ representatives will return for negotiations to conclude the now delayed second review of the Greek program.
Among others, SEV called for
— «front-loaded» tenders of planned privatizations around the country;
— a reduction in the tax rates slapped on wage-earners – a measure aimed to relieve the burden of over-taxation on the private sector workforce
— a 200-percent depreciation rate for investments
— implementation of a universal electronic receipt/invoice system for transactions between businesses and consumers, in a bid to further combat tax evasion
— a reduction of the tax-free threshold to the level defined by a social solidarity income safety net, a proposal that echoes a standing demand by the IMF
— Cutting the wider public sector’s operational expenditures by 1 percent of GDP, excluding social services, health and education
— offering a fixed date, within the next three months, for the lifting of capital controls
— a more ambitious plan to reduce non-performing loans (NPLs), including a provision for the automatic sale of bad debt to distress funds in case of missed overdue payments
— an immediate return of the Greek state to private sector bond markets
Additionally, SEV called for a transfer of the cruise ship and passenger ferry terminals from the main port of Piraeus to the smaller harbor of Lavrio, southeast of the greater Athens area, but with the simultaneous expansion of the Piraeus port facilities west towards Megara.
For the port city of Piraeus, which hosts the country’s largest and busiest port, SEV said efforts should be made to transform it into a true shipping, ship-repair, maritime transport, finance and logistics hub.
It also called for the further expansion of private-public sector partnerships at still state-run airports, ports and marinas, along with the electrical grid connection with Italy.
