they are a factor of economic growth. This is
why we want to remodel the state; to ensure
that it will provide public goods in the way we
want it to.
● Fourth principle: The perception of the bank-
centred system as a fully liberalized sector of
the private economy that will be the driver of
the country’s economic transformation is
wrong. We must strike a new balance between
the public and the private sector.
● And the fifth, and fundamental, principle: We
must reduce —indeed, we must eliminate— as
soon as possible, this huge gray area that lies
between the public and the private to the pub-
lic sector. And we are talking about an endless
gray area.
Which are the specific bold measures required for
restarting the Greek economy, and how will this
major turnaround, which will eliminate all inherit-
ed problems, be brought about?
Measure number one: Launching a tender for the
country’s radio/television spectrum. Greece is the
only European country where radio/TV stations
have been operating on the basis of provisional
annual permits for the past 25 years. Like certain
coffee shops, I believe.
Measure number two: Dealing with non-performing
mortgage loans. We will immediately introduce a
law establishing the full protection of primary res-
idences from foreclosure; restructuring loans;
transferring all the loans of households living at or
below the poverty line from the banks to a public
management agency; and introducing binding
legislation, based on strict rules and providing for
strong mediation, and aimed at resolving the
mortgage loan problem for all medium-income
households.
Measure number three: Managing the business
loans of small and medium sized enterprises in a
business-friendly manner, which will make it pos-
sible to rekindle small and medium-sized entre-
preneurship — I am using the term small and
medium-sized entrepreneurship without any
asterisks.
Measure number four: A new development law,
which will offer strong incentives for the invest-
ments that the country wants and needs, based
on industry-specific and geographical criteria, and
premised on the idea that we must dispose of the
previous development laws and the problems
they created, and turn towards modern and
meaningful development laws that offer real
incentives, mainly to young entrepreneurship, as
well as social and private enterprises.
We will completely transform the complex institu-
tional framework regarding exporters, in order to
render it effective, also continuing to cut down on
red tape by establishing business service centres,
along the lines of the successful Citizen Service
Centre institution.
Another contentious issue, which has to be final-
ly and irrevocably clarified: Shops will be closed
on Sundays. Society knows too well how to han-
dle such issues. In Greece, there are many tourist
areas where the shops are open on Sundays, but
this is decided on by the local communities, the
local traders associations, and the local regional
authorities. This is exactly the model that we will
retain.
And the final bold measure: Greece has been
paying dearly for a huge construction sector,
whose pricing practices, management and trans-
parency in regard to major projects require a
major structural reform. Our growth model will not
only include a major shift from large projects to
the small and medium-sized ones the country’s
new growth model really needs, but will also set
new transparent rules ensuring that government
money is used in the way it is supposed to.
* From the speech delivered by the Minister of
Economy, Infrastructure, Shipping and Tourism,
George Stathakis, as part of the government’s
programme statements in Parliament.
Trade with Greece
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