Finance Minister, MPs to finalize overhaul of party funding laws

Finance Minister Gikas Hardouvelis is on Wednesday to meet coalition MPs in a bid to finalize an overhaul of regulations governing the funding of political parties, one of five prior actions tied to continued rescue loans.

A set of proposals – drafted by Ioannis Tentes, the country’s anti-corruption coordinator – foresees several key changes.

They are: the creation of a five-member panel to monitor the finances of parties as well as the declaration of source of assets (“pothen esches”) forms submitted by politicians; the halving of state funding to parties and the reduction of election funding; the introduction of a stricter system for governing parties’ bank accounts, which will have to be based in Greece; and the creation of an electronic system for checking politicians’ assets.