Greece needs a revamped banking system, free
from the constant burden of non-performing
loans. Liquidity is key and, in order to achieve it,
a second chance must be extended to those busi-
nesses that despite being indebted have the
capacity to function productively again. Moreover,
a realistic out-of-court settlement scheme is
imperative to getting back on the path of normal-
cy. No economy can grow unless the banking sys-
tem can stand by consumers and businesses.
And above all, Greece needs a real-world, solid
and serious government that is not weighed down
by anachronistic ideological burdens. A govern-
ment willing and able to pursue those critical
reforms, which often entail no fiscal cost and will
lay the ground for a prosperous future. Greece
needs an educational system that is independent
and affords students the opportunities to excel. A
justice system that is allowed to do its work unhin-
dered. A public sector system with employees
that are properly evaluated and promoted on the
basis of merit.
Only then can Greece find its way out of the cri-
sis. I am absolutely certain that the Greek people
are ready to make a new beginning. Populism
has in practice been utterly defeated within Greek
society itself. What remains is its electoral defeat.
The Greek people have grown, they have
matured, they are ready to do all it takes in order
to put our collective house in order and begin
rebuilding again a better country for future gener-
ations.
Trade with Greece
11
the political will and plan to forge ahead.
Nea Demokratia is poised to do so. Not merely to
attract such investment, but to provide the condi-
tions which ensure that investment leads to prof-
its and, in turn, to job creation. This is precisely
why a comprehensive growth and development
plan is in order. To begin with, Greece needs
fewer taxes. Business taxes must be decreased
by nine percentage points over a two year period,
not only in order to give the necessary boost to
new ventures, but also to afford existing enter-
prises that have shown tremendous resilience
over the crisis, the opportunity to flourish. There
are more than enough savings to be had from
public spending to finance these tax cuts.
Moreover, once the country finds itself on solid
ground again and once a solid and stable tax sys-
tem is in place that will reward investment, it is
imperative that we seek greater fiscal space from
our primary surplus requirements, in order to
finance further property and household tax cuts.
Greece needs a smaller and more efficient state.
A state that spends less and delivers more for its
citizens and businesses. A state with less red-
tape and bureaucracy, embracing simplification
measures that make investment more attractive.
A judicial system that does not undermine invest-
ment initiatives via useless judicial challenges.
Key privatisations must move forward at a faster
and more decisive pace. Specific sectoral policies
must be promoted in order to allow us to leverage
our competitive advantages in tourism, agricul-
ture and renewable energy.
