NEWS

Fourteen-point growth proposal is unveiled

fourteen-point-growth-proposal-is-unveiled

The Greek government has made public the draft of a proposal prepared by a committee under Cypriot Nobel Laureate Christopher Pissarides which aims to promote “the systematic increase of incomes” that “will increase productivity, labor and investment.”

The proposal is essentially an intermediate text that will undergo public consultation, with the final proposal to follow in September 2020, before Athens submits its proposal for approval next October in Brussels. 

Among the 14 points of the proposal is the call for the mitigation of the burden on paid employment through combined measures such as slashing insurance contributions, eliminating the solidarity levy and a reduction of the maximum insurable income. 

Other recommendations include the modernization of the financial supervision system in the field of investor protection and modernization of the corporate governance system.

With regard to the justice system, it calls for the immediate operation of specialized departments in the courts for cases of significant financial interest with a maximum of 12 months set until a verdict is issued. 

What's more, the committee has proposed the institutional strengthening of public administration. It foresees an upgrading of the role of the Supreme Personnel Selection Council. In addition, it insists that evaluation must be applied universally in the public sector.

Bolstering research by removing obstacles at universities and research centers is also highly recommended.

Moreover, public investment and incentives are recommended for private spending on energy upgrades to buildings (residential and commercial) in order to reduce energy consumption and increase the value of real estate.