Androulakis: Seven interventions for the rebirth of small and medium enterprises

Nikos Androulakis, president of Greece's PASOK party, has unveiled a comprehensive plan comprising seven key interventions aimed at bolstering small and medium-sized enterprises (SMEs) and fostering economic development. Presented at the Athens Chamber of Professionals, these proposals are designed to strengthen the resilience and competitiveness of the Greek economy.

"We are presenting seven specific interventions that we must gradually design as a state to change the course of the Greek economy," Androulakis stated. A central proposal involves extending debt repayment installments from the current 72 to 120, with specific incentives, making it accessible to a broader range of debtors. PASOK also advocates for the immediate reinstatement of first home protection measures, similar to those in Law 3869/2010, and granting borrowers a preferential right to purchase their loans under certain conditions.

Furthermore, the party proposes making it mandatory for creditors to submit a settlement proposal within the out-of-court mechanism and imposing strict penalties on funds and servicers that fail to comply with legislation. "The market for loans after their sale by banks to funds will stop being a free-for-all at the expense of the Greek people," Androulakis asserted.

Additional measures include establishing an untaxable professional account to ensure businesses have access to working capital, creating a strong Development Bank Group, and increasing the VAT exemption threshold to 20,000 euros to reduce the administrative and tax burden on very small businesses. PASOK also calls for the immediate abolition of imputed taxation, advocating for taxation based on actual income, and the complete elimination of the solidarity levy.

Finally, the party seeks to reintroduce collective bargaining for setting the minimum wage, ensuring it is determined by social partners. PASOK also commits to reducing non-wage labor costs through a decrease in insurance and other burdens. Androulakis stressed that these proposals are part of a broader philosophy for addressing SMEs and the Greek economy, criticizing the current government's economic policies.