Thursday December 18, 2014 Search
Weather | Athens
17o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Greece aims at saving 7 bln euros by cutting red tape

Greece's slow and burdensome bureaucracy is estimated to cost the cash-strapped country a total of 14 billion euros a year, or 6.8 percent of gross domestic product (GDP) -- almost double the European Union average of 3a.5 percent -- according to conclusions of a recent meeting between Administrative Reform Minister Antonis Manitakis, Development and Competitiveness Minister Costis Hatzidakis and a team from the Organization for Economic Cooperation and Development (OECD) in Athens.

The OECD has sent a team of advisers to Athens to work with the government on cutting red tape, with the aim of reducing bureaucracy by 25 percent by the end of 2013, which would mean savings of as much as 7 billion euros.

In a deal signed between Manitakis, Hatzidakis and the OECD, the Paris-based organization will undertake an inspection of 13 crucial sectors before making recommendations on how red tape can be reduced in order to cut administrative and legislative costs, and to boost the country's flagging competitiveness.

The sectors that will come under scrutiny include the energy market, agricultural subsidies, public contracts, telecommunications, tourism and the pharmaceutical market, as well as taxation laws.

The government signed two separate agreements with the OECD team, one on curbing administrative costs and the other on measures for boosting competition.

According to the latter, the OECD will propose measures for more competitive pricing policies, boosting consumer choice, reversing attitudes that work against competition, encouraging investment and boosting exports, Hatzidakis said following the signing ceremony.

The aim of the agreements, according to Manitakis, is to slash by 80 percent the cost of administrative red tape, with a 25 percent reduction by the end of 2013 and savings of 2.4 percent of GDP by 2025.

The first phase of the program will be completed by April next year and the second phase by September.

ekathimerini.com , Monday December 3, 2012 (14:11)  
Eurozone bond yields fall as ´patient´ Fed pleases investors
Stores will open on Dec 28, but traders aren’t too happy about it
More Britons and Americans eyeing Greece for vacations
Vodafone and Wind to bid for Forthnet
Election looms as Samaras fails to win vote for president
Greece moved a step closer to early elections after Prime Minister Antonis Samaras failed to gather enough support for his nominee in a parliamentary vote for a new head of state. In voting ...
Universities ask state to reverse mobility scheme
Rectors representing the country’s largest universities on Wednesday appealed to the government to take immediate action to relieve operational problems at the institutions that have been ca...
Inside News
BASKETBALL
Pappas helps Greens overcome Aris
An impressive Nikos Pappas averted an upset by Aris and ensured Panathinaikos retained its perfect record on Tuesday, one day after Olympiakos thrashed Panionios at Nea Smyrni for the Basket...
´Wee Jay´ and idol Georgios Samaras receive Greek sports journalists´ award at Athens gala
A 10-year-old Irish fan of Greek striker Georgios Samaras was in Athens on Monday at the invitation of the Greek Sports Journalists' Association, which honored outstanding achievements in sp...
Inside Sports
COMMENTARY
Europe´s drama in Greece needs final act to avoid tragedy
Judging from Wednesday's vote in the Greek parliament, Prime Minister Antonis Samaras may not get the mandate he wants to keep economic austerity measures in place and avoid defaulting on th...
COMMENTARY
A pointless battle
The public closely watched the first act in the three-part drama of Parliament’s election of a new president yesterday. The result was below the expectations of the New Democracy-PASOK coali...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Eurozone bond yields fall as ´patient´ Fed pleases investors
2. Election looms as Samaras fails to win vote for president
3. Stores will open on Dec 28, but traders aren’t too happy about it
4. More Britons and Americans eyeing Greece for vacations
5. Vodafone and Wind to bid for Forthnet
6. Credit line conditions laid out
more news
Today
This Week
1. Election looms as Samaras fails to win vote for president
2. Europe's drama in Greece needs final act to avoid tragedy
3. Eurozone bond yields fall as 'patient' Fed pleases investors
4. High stakes
5. Leftist SYRIZA leading ND by 3.2 pct, survey shows
6. The secret is out
Today
This Week
1. Juncker warns Greeks against voting 'extreme forces' into power
2. Romanos and the dilemma
3. Samaras summons bond vigilantes with euro exit talk
4. A friendly yet firm message from Pierre Moscovici
5. East Europe scrambles for energy after Putin kills South Stream
6. Anarchist Nikos Romanos ends hunger strike
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.