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Politics

Kudos for Mitsotakis from OECD for Greek Economic Reforms

July 4, 2021

Greek Prime Minister Kyriakos Mitsiotakis' so-called 2.0 plan to help the COVID-19 lockdown battered economy has drawn plaudits from the Paris-based Organisation for Economic Cooperation and Development (OECD) for its reach.

“We are very optimistic about the course of the Greek economy,” the group's Secretary-General of the Organization for Economic Cooperation and Development Mathias Cormann told the premier in a meeting in the Greek capital said Kathimerini.

“We believe that the Greek government has done a very good job,” he said, referring to the “profound transformation of the Greek economy into a modern, digital, green economy that will give people many opportunities in the years to come,” the OECD chief.

Greece is being helped with some 32.5 billion euros ($38.56 billion) in European Union grants and subsidies for recovery from the pandemic but there's been no report where it's going.

Cormann also stressed the importance of the recovery after the pandemic, urging as many people as possible to be vaccinated. “You have done an excellent job in this here in Greece,” he added according to the report.

The major rival SYRIZA panned the recovery program which party leader and former premier Alexis Tsipras said put an unfair burden on small and medium-sized enterprises, promoting excessive privatizations and undermining labor rights, as SYRIZA did while in power for 4 ½ years.

 during a presentation of his leftist party’s “Greece+” proposal for the utilization In May, Tsipras accused the center-right government of failing to consult with opposition parties on its recovery blueprint.

“The chronological scope of its program surpasses the constitutional tenure of the current administration,” he said, adding that he will propose the formation of a special parliamentary committee to oversee the allocation of those funds.

The government’s recovery program, he said, relies on four pillars: elasticity in labor relations by way of reducing wages and increasing working hours; privatizations of public infrastructure, including energy companies, insurance funds, and health and education services; reducing the number of SMEs and leaving them out of the “green” transition; and reducing taxes on profits and high incomes by transferring the tax burden on consumption and onto small and medium-sized property assets, all while reducing social spending.

What Greece needs, said Tsipras, is a coherent strategy “that lays the foundations for sustainable, equitable development and growth.”

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