Tuesday June 30, 2015 Search
Weather | Athens
14o C
09o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Bill introduces new rules for funding of Greek political parties

Legislation submitted to Parliament Thursday seeks to overhaul the way political parties in Greece are funded by limiting the amount of taxpayers’ money they receive, increasing transparency regarding donations and preventing them from borrowing against future revenue.

One of the most significant changes that the draft law aims to introduce is for parliamentary parties, which have access to state funding, to receive taxpayers’ money based on a 0.005 percent share of net revenues from the previous year rather than 0.102 percent state revenue projected in the national budget. Until now, parties had received public funding based on expected revenues, which often fell short of the target, leaving the political groupings better off than the state.

In terms of state funding per vote gained, Greek parties have one of the highest ratios in the European Union. This has led parties to be highly reliant on the public money they receive each year. They are due to receive a combined total of 10 million euros this year, with New Democracy getting the largest share (820,386 euros) as it won the last general elections.

The bill also prevents parties from obtaining bank loans by using future state funding as collateral. This had been a popular tactic for parties until now and has led to New Democracy and PASOK owing around 250 million euros to local banks.

All parties will be required to have a maximum of three bank accounts, whose details must be registered with a committee that will monitor party finances. If extra accounts are discovered, their contents will be seized.

All donations must be made to these accounts and the details of the donors must be made public, according to the would-be law. The maximum donation that can be made in the course of a year will be 20,000 euros. Donations from abroad will not be permitted.

The draft law adopts most, although not all, of the 16 recommendations regarding changes to party funding made by The Group of States against Corruption (GRECO), a body set up by the Council of Europe.

Due to the nature of the legislation tabled in Parliament Thursday the debate on its provisions will not be held until the summer recess is over. The House is due to return to normal sessions in October.

ekathimerini.com , Thursday Jul 31, 2014 (21:39)  
Tsipras says ´no´ vote will help talks but ´yes´ will prompt political developments
EU officials say referendum is on euro or drachma
Health officials monitoring medicine supplies
Almost 109,000 young Greeks can vote in plebiscite
Greeks check goods online, buy at stores
Greek consumers search for shopping purchases online but prefer to buy items at stores, according to Google’s Consumer Barometer. The 2014/15 edition of the survey showed that 60 percent of ...
Closure of country’s banks leads commerce to grind to a halt
The bank shutdown and the imposition of capital controls have led to a halt in trade across the country. With the exception of food stores and gas stations, which saw another day of increase...
Inside Business
SOCCER
English keeper Steele stays with Panathinaikos
English goalkeeper Luke Steele has extended his contract with Panathinaikos until the summer of 2018, the Greek Super League club announced on Monday. Former England youth international Stee...
VOLLEYBALL
Great wall of China insurmountable for Greece
The Greek men’s national volleyball came mighty close to snatching a spot in the Final-Four of the World League’s third division, but eventually succumbed to China in front of some 4,000 fan...
Inside Sports
Switching the rules for the referendum
The legislative decree that the government just issued changes in its favor the rules that apply for the carrying out referendums. It states that «if it is not possible to put together one s...
COMMENTARY
Playing the last chips
Prime Minister Alexis Tsipras played his last chips and the country is already experiencing the results. If he has come to terms with the idea of Greece returning to the drachma then you can...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Tsipras says ´no´ vote will help talks but ´yes´ will prompt political developments
2. Greeks check goods online, buy at stores
3. Closure of country’s banks leads commerce to grind to a halt
4. Public coffers run dry as taxes go unpaid
5. ATHEX: No trade until next Tuesday at the earliest
6. Double default day for Greece?
more news
Today
This Week
1. Greek government says no limit on bank withdrawals for foreign tourists
2. Playing the last chips
3. Poll shows chances of Greece euro exit balancing on knife's edge
4. Referendum asks Greeks simply to accept or reject creditors' plan
5. Cautious Merkel on verge of biggest risk with 'Grexit'
6. ECB rejected Greek funding line request for extra 6 bln euros, say sources
Today
This Week
1. Greek government says no limit on bank withdrawals for foreign tourists
2. Greek referendum offer is more con than democracy
3. Greek negotiators learned of referendum proposal from Twitter
4. Greeks want to stay in eurozone, two polls show
5. A decision with no preparation
6. Europe, a big phony
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.