Tuesday September 16, 2014 Search
Weather | Athens
28o C
21o 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)  
Athens coastal revamp enters first leg as 20 buildings are ceded
Golden Dawn candidate found guilty of inciting racist violence
PM to inaugurate new surgery wing at Evangelismos Hospital
Thessaloniki woman arrested for cashing in dead aunt´s pension
Tripoli´s military airport in Peloponnese to be opened to passenger traffic
A military airfield in Tripoli, in the Peloponnese, will be opened to passenger traffic, according to a joint decision signed on Tuesday by the ministers of Defense, Dimitris Avramopoulos, a...
Pension review has saved state 42 mln euros, alternate finance minister says
A review of the pensions being paid out by the Greek state and new, stricter rules governing pension registrations have led to savings of a total of 42 million euros in the past two years, A...
Inside Business
SOCCER
Olympiakos, Atletico gear up for Champions League opener
A rousing 2-1 La Liga victory at Real Madrid on Saturday may suggest otherwise, but Atletico Madrid is still rebuilding after losing several key players in the close season, coach Diego Sime...
WATER POLO
Greece wins women´s U19 Europeans in water polo
Greece won the women’s European Under-19 Championship in Italy beating the host in Sunday’s final, for what was the country’s second gold medal in the competition’s history. The Greek teenag...
Inside Sports
FOCUS
Democracy´s many guises and challenges
The wilting Arab Spring, conflict in Ukraine, slaughter in Iraq and Syria, citizens not trusting their governments and Europeans losing their enthusiasm for the Union – most places you look ...
COMMENTARY
Lessons not learned
One year since the assassination of rapper Pavlos Fyssas by a member of Golden Dawn in Keratsini, southwestern Athens, we now know a lot more about the activity of the neo-Nazi party’s hit s...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Athens coastal revamp enters first leg as 20 buildings are ceded
2. Tripoli´s military airport in Peloponnese to be opened to passenger traffic
3. Pension review has saved state 42 mln euros, alternate finance minister says
4. Golden Dawn candidate found guilty of inciting racist violence
5. Olympiakos, Atletico gear up for Champions League opener
6. PM to inaugurate new surgery wing at Evangelismos Hospital
more news
Today
This Week
1. Greece at bottom of social justice scale among EU28
2. Lessons not learned
3. Promises, promises
4. Thessaloniki woman arrested for cashing in dead aunt's pension
5. ECB's Liikanen says bank ready to take more action if necessary
6. PM to inaugurate new surgery wing at Evangelismos Hospital
Today
This Week
1. A Greek God
2. Greece on standby
3. Avramopoulos appointed Commissioner for Migration and Home Affairs
4. Central Athens traffic restrictions back in force on Monday
5. Pavlos Fyssas murder trial expected to start before the end of the year
6. EU bank tests may miss trillion dollar risk, study finds
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.