'He is not among those in New Democracy who governed between 2004-2009 and who led the country with their irresponsible economic policy a step closer to catastrophe,' the Germany daily says of the ND leader.
There is an expectation that there will not be a repeat of phenomena of extreme populism that deeply wounded the country, most notably with the extension of the crisis for an extra four years.
From the PM's point of view, over-taxation, the suffocation of the middle class, and the dramatic plunge in public investment are not particularly problematical.
'He wants to unblock privatisations, reduce what he calls the state’s needlessly large footprint and make sure that Greece borrows at the same cost as other European countries,' Reuters reports.
A Hellenic Federation of Enterprises report says the middle class faced unprecedented over-taxation based on economic aims but political motives.
“The challenges for Mr. Mitsotakis, if elected, would include reforming a Greek state that has defied many attempted overhauls, convincing Germany and other lenders that his tax cuts will pay for themselves via better growth, and getting his own party to break with old habits of political patronage,” the report states.
The central banker’s assessment reminds one that the economy has not yet turned a page and that it has not been shielded from dangers.
It is irrational in the current conditions of stagnation and continuing crisis for public investment to be constantly dropping.
'The Greek middle class suffered over the last years from high contributions. Tax policy is one of the main reasons for the drop in the government’s polling numbers,' Handelsblatt reported.
Mitsotakis is running as the man who can re-unite a country deeply divided by the polarising strategy of a ruthless tactician.
The measures include the gradual reduction of business tax over four years from 29% to 25% (it fell to 28% this year), a reduction of the ENFIA real estate tax in certain lower income categories, and a rent subsidy,
'The result of the European election whetted the appetite of the political establishment in Greece and of extreme, conservative circles in Brussels which want to dispute our central political choices and hinder our plan,' the PM said.
It is no coincidence that Portugal borrows with much lower interest rates than Greece, as the yield on ten-year bonds demonstrates.
The cost of the package of measures announced by the PM is between 1.1 and 1.4 percent of GDP annually, which could exceed five billion euros over two years.
“Now that we have an improvement in the terms of borrowing for the Greek state, one should expect an improvement of the terms of borrowing for Greek banks. We may now have fewer banks, but they are stronger and the future belongs to them,” Stournaras declared.
The report underlines that in general there has been an unwelcome fiscal loosening in implementing reforms agreed to with Greece’s creditors and European partners over the last several months
Citizens in the recent elections punished the government for its failure to deliver on the economy, and the reaction of markets is hardly encouraging.
The stock market party is a reaction to the result of the 26 May European Parliament election as New Democracy won the contest by an unexpectedly large margin, the financial daily opines.
The credit rating agency projected that the recent improved climate will lead to a hike in deposits, a gradual reduction of non-performing loans (NPLs), and improved prospects for profit.
Over-taxation was a conscious choice of the government, which aimed to collect funds for electoral handouts at the end of its term.
After four lost years it is time to set aside ideological fixations and the ills that entrapped us in underdevelopment.
Greece has enormous capabilities. Unfortunately they are not being exploited and the results are tragic, as evidenced in the brain drain and the shrinking of the population.
At the peak of the tourist season employees in the hotel and food industries numbered 411,000 and accounted for 16.7 percent of employment.
Prime Minister Alexis Tsipras has depicted himself as the protector of the poor and vulnerable and his opponent as a monster out of the Book of Revelation
The erstwhile enemy of the bailout memorandums ended up accepting the third and worst adjustment programme and said that he did so in the name remaining in the eurozone, which until then he had blamed for all of the country’s ills.
'Above all, our objective is to bolster the social economy – including agricultural cooperatives and energy communities,' the finance minister said.
The 26 May European Parliament and local elections are a dress rehearsal for the upcoming parliamentary election.
Asked about Tsipras’ package, Scholz said that Greece is part of the wider success story of the eurozone, as all countries which had funding problems have been able to return to regular borrowing
The reality is that all too many households in the country are still experiencing the harsh impact of the crisis.
Mitsotakis said Tsipras' economic stimulus programme, including tax cuts, is too little too late and is in no way a growth programme.
The cut in the VAT tax on food and restaurants and on electricity and gas bills as well as an annual bonus of half of a month’s pension annually for retirees is targeting a solid group of voters
Tsakalotos maintained that the government aims to tax the haves more than the have-nots who have borne the brunt of the crisis.
Finance Minister Euclid Tsakalotos and Alternate Finance Minister Yorgos Houliarakis have conceded that over-taxation of the middle class was carried out by design.
The government has shaped an artificial reality in order to boast of its achievement even as the economy totters.
Greece is perhaps the only European country where political life literally paralyses before an election. The state lacks continuity and is managed in piecemeal fashion. The state machine freezes with a view to the upcoming political transition.
In its early period SYRIZA’s cadres defended migrants’ rights and were battling the 1% of the world population that was exploiting the toil of the other 99%.
Instead of fixing the fiscal roof, the government is preoccupied with handing out benefits, providing arrangements for debt repayment, and offering a write-down on home loans
According to the OECD, Greece and Hungary are the two European countries in which 70 percent of middle class households cannot afford unexpected expenses.
We seek out or manufacture enemies instead of forging a fundamental consensus so as to escape the vicious circle into which the country has fallen.
The Bank of Greece rang the alarm bells over the danger of fiscal derailment due to Greece’s Council of State rulings which deemed unconstitutional earlier pension cuts and the abolition of holiday bonuses.
We make mistakes and sometimes unpardonable ones, Deputy PM Yannis Dragasakis told Parliament about arrangements on resolving non-performing loans.
Europe as a whole should be concerned, as should Greece in particular which is a country that brings in tourists and exports university students and young scientists
Despite the rosy image of the economic situation that the government is presenting, the fact is that the revenues of a segment of the population are shrinking.
This is an image of decline that is confirmed by the UN report on happiness. Our country is becoming ever more poor and unhappy. Greece fell by three notches in one year, from 79th to 82nd.
'Reforms must accelerate in order for investments in the fields of agriculture to be supported, along with the recovery of the banking and real estate sector, but broadly speaking everything is being done as it should be done.'
Citizens, businessmen, and the work force are not offered solutions to their problems because the government adopts opportunistic policies.
The IMF report said that the government should bolster its legal arsenal to allow a reduction of NPLs on private sector terms
An economy does not build endurance with triumphant declarations and self-deceptions, of the kind one has tragically witnessed in the recent past.
Other countries, including Portugal, borrow at a rate of about one percent whereas Greece is obliged to pay off its 10-year bond with a payment of nearly 800mn euros.
Investors' bids on a new Greek 10-year bond issue exceeded 11.3 billion euros
All opinion polls indicate that the basic worry of citizens is the economy and not which politicians will join SYRIZA in a political front after the PM’s invitation.
The government’s room for manoeuvre is limited if it wants to receive a tranche of about one billion euros from the profits of eurozone central banks on Greek bonds.
Mr. Tsipras must decide if he will become a European Social Democrat or whether he will again opt for opportunistic choices and easy, hollow pledges.
In an exclusive interview with To Vima, the Harvard economics professor and former IMF chief economist discusses Greece’s growth prospects.
The PM has assured us that the new, progressive political tent with SYRIZA at its core will cover the entire political spectrum 'from Social Democracy to the popular right'.
The government has provoked an institutional crisis and is responsible for the perpetuation of the economic crisis.
The government's paramount consideration in all choices is political gains for the ruling party. Creating fissures in politics and society is a primary concern.
Eleftherios Venizelos, one of the greatest statesmen of the Modern Greek state, spoke more about interests than about just rights.
The leader of New Democracy called for a change in the agenda of Greece-Germany economic relations.
Weber lambasted Tsipras’ economic policy and the Greek PM’s refusal to sign on to EU initiatives regarding the removal of Venezuelan President Nicolas Maduro.
The finance ministry now fears that fiscal targets will not be met if employees’ holiday bonuses are restored in the public sector.
Greece is the only eurozone country that borrows with such high interest rates. The crisis is over for Portugal and Spain, but unfortunately not for Greece.
In order to achieve the desired autonomous return to the markets and render the country fundable there must be repeated Greek bond issues at regular intervals and across all terms of maturity.
Katainen expressed the Commission's satisfaction regarding Greek investments under the European Fund for Strategic Investments
Isolated from the Greek people, burdened with politico-ideological fixations, and with a limited understanding of the contemporary world, Mr. Tsipras cannot keep up with international trends.
The government is signaling that it is all right if creditors are dissatisfied with the fact that it will not be able to meet a series of existing commitments by a 15 February deadline.
Asked if New Democracy will govern better or worse than SYRIZA 30.6 percent said it would do worse or probably worse, but 47.4 percent ND would do better or probably better.
The report of creditors will determine the stance of the markets and the return of about 700mn euros in profits of eurozone central banks from Greek bonds.
Analysts now view PM Alexis Tsipras as the head of a minority government that cannot fully govern despite the recent confidence vote in which it received an absolute majority in parliament.
Within the next 30 days Greece’s creditors or “institutions”, which are currently in Athens to conduct an evaluation, expect the government to have met 16 prior commitments.
No normal economy has been saddled with the straight-jacket of huge primary surpluses. No regular economy is subjected to the enhanced surveillance of European institutions and of the IMF.
The report says that upcoming election will be critical in bolstering growth.
Economic analysts and major financial players are underlining that political uncertainty can have an exceptionally negative impact on the course of the economy.