Wednesday October 22, 2014 Search
Weather | Athens
24o C
11o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Seven keys seen for recovery

 Top research center stresses political stability, reforms – especially privatizations – and tackling corruption

The recovery of the Greek economy, which is already under way, depends on seven key factors outlined by the country’s respected Center of Planning and Economic Research (KEPE) in a report released on Wednesday.

These are listed as political stability, a comprehensive development plan with short- and long-term targets, the continuation of the promotion and adoption of the necessary structural reforms, the modernization of public administration and the judicial system, an overhaul of the tax system to fight tax evasion, cuts in red tape and administrative costs, and tackling corruption.

According to the report, the goal of maintaining the stabilization of public finances in 2014 seems attainable but important constraints are posed by political disagreements as regards structural reforms, the results of European stress tests on Greek banks and nonperforming loans.

KEPE’s “fear index” regarding the Greek economy, which stood at 35.26 percent on July 15, was slightly higher than the average for the period since January 1, 2004 (34.5 percent). This is taken to reflect the continued rebound in confidence in the Greek economy and stock market, as well as favorable investor expectations regarding the derivatives market.

Liquidity for enterprises remains an important problem, the report notes. The gradual restoration of normal financing conditions depends largely on the successful restructuring and recapitalization of banks, and dealing with the problem of nonperforming loans, given the high cost of financing.

In a report on the financing of the private sector, the Task Force for Greece made special mention of the founding of an Institution for Growth, while also pointing out that more than 3 billion euros in European Union subsidies is available through programs for bolstering entrepreneurship. However, only 463 million seems to have been disbursed so far.

KEPE also notes considerable delays in the privatizations program, where the revised target of 1.5 billion euros for 2014 (from 2.7 billion) also appears in doubt. It is important that such delays are overcome, as privatizations, beyond the fiscal and financial benefits, will contribute to investment and the inflow of long-term capital.

ekathimerini.com , Wednesday August 6, 2014 (21:50)  
Credit sector officials sleeping easy ahead of stress test results
Certainty on primary surplus target
Feverish talks on payment plan proposals
TUI promises even more tourists
Archaeologists find missing head of Amphipolis sphinx
Archaeologists digging at a tomb dating to the era of Alexander the Great in ancient Amphipolis in northern Greece have found the missing head of one of the two sphinxes guarding the entranc...
Coalition leaders prepare for troika amid sour mood
A dispute between New Democracy and PASOK over civil servants’ salaries continued Tuesday, underlining the big task facing Prime Minister Antonis Samaras and Deputy Prime Minister Evangelos ...
Inside News
BASKETBALL
PAOK fans stop coach Markopoulos´s move to Olympiakos
Olympiakos is once again in the lookout for a new coach after the refusal of PAOK to release Soulis Markopoulos, while Panathinaikos defeated Kolossos on Rhodes on Monday to become the only ...
BASKETBALL
Reds lose to Nea Kifissia, search for new coach
Nea Kifissia recorded the biggest win of its short history in the top flight defeating Olympiakos 68-67 on Sunday, in a Basket League weekend marred by the abandonment of the Thessaloniki de...
Inside Sports
COMMENTARY
The ECB collateral for Greece must be lowered to 5 pct
According to recent reports, the European Central Bank plans to reduce the “57 percent penalty,” that is the discount applied to almost all Greek government bonds (GGBs) held as collateral b...
INTERVIEW
The past, present and future of the Greek debt crisis
For a decade, until mid-2012, Josef Ackermann was the CEO at Deutsche Bank. It was a position that earned him the nickname “shadow chancellor” of Germany and allowed him to play a decisive r...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Credit sector officials sleeping easy ahead of stress test results
2. Certainty on primary surplus target
3. Feverish talks on payment plan proposals
4. TUI promises even more tourists
5. Archaeologists find missing head of Amphipolis sphinx
6. Coalition leaders prepare for troika amid sour mood
more news
Today
This Week
1. The past, present and future of the Greek debt crisis
2. Gang importing heroin into Greece busted
3. Greece said to seek tailor-made plan for bailout exit
4. Self-opposing coalition
5. Gutsy rectors
6. Applications for heating oil subsidy set to start
Today
This Week
1. Possible third figure in Amphipolis mosaic may be uncovered shortly
2. Istanbul skyscraper casts shadow over Greece's banking ambitions
3. Coalition shooting itself in the foot
4. GPO poll gives SYRIZA clear lead over New Democracy
5. Greece must stick to reforms, says Schaeuble
6. Greece’s closed society is central to its current malaise
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.