Hardouvelis: “We have a marathon ahead of us”

The new Minister of Finances Gikas Hardouvelis appeared on ANT1 where he explained that Greece has “a marathon” ahead of it…

The new Minister of Finances Gikas Hardouvelis appeared on ANT1 where he explained that Greece has “a marathon” ahead of it and revealed that he would focus on reducing unemployment and stabilizing the people’s income.

Mr. Hardouvelis will soon be faced with the implementation of prior actions set by the troika in order to collect two 1-billion-euro tranches in June and July. The Minister of Finances is expected to attend the Eurogroup meeting on the 19th of June and will have his first contact with the troika heads in mid July, when they are scheduled to visit Athens for about 10 days, ahead of the review in autumn.

The troika is expected to reiterate the twelve prior actions, as outlined in the bailout terms. These include:

  • Updating the list of third-party taxes
  • Legislating so that uninsured have access to medicine and diagnostic tests, as well as reduce pharmacy profit margins
  • Adopting a Code of Ethics for government officers
  • Uniting the tax collection procedures
  • Adopting legislation for the licensing of investments
  • Legislating on outdoor markets
  • Abolishing third-party taxes that fund supplementary pension funds under the Ministry of Labor, as of January 1st 2015
  • Legislating on the unification of all public sector supplementary pension funds under ETEA
  • Introducing new forest legislation
  • Legislating on the reduction of administrative burden
  • Legislating on the “mini DEI” and addressing its outstanding debts
  • Adopting legislation to monitor the funding of political parties

The newly-appointed Minister will also discuss changes to the insurance system, the new payroll in the public sector (the second in three years) and whether to extend the collection of the emergency solidarity contribution, among others.

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