x

Politics

Tsipras Slams Government’s Bankruptcy Code in Meeting with GSEVEE Leader

October 20, 2020

ATHENS — The government is legislating the immediate bankruptcy and liquidation of personal assets, said SYRIZA leader Alexis Tsipras after a meeting on Tuesday with the President of the Hellenic Confederation of Professionals, Craftsmen & Merchants (GSEVEE) Giorgos Kavathas.

The meeting was held at the party's headquarters to discuss the government's new Bankruptcy Code, which will include both businesses and individuals. After clearing committee discussion on Tuesday, it is heading to plenary for debate and voting.

The main opposition party leader expressed his concern about the start of auctions of debtors' primary homes in the midst of the pandemic crisis and warned of a "second big wave of debtors, including businessmen and individuals," who will be unable to repay their loans due to job losses or minimal incomes. He added that workers who have an annual income of more than 7,000 euros but are unable to cope due to the current circumstances, are not protected and will go bankrupt.

Tsipras noted that in many such cases in the rest of the EU, the trend is to extend the suspension of bankruptcies until the middle of 2021.

Kavathas warned of a "great risk of disrupting social cohesion" from the new bankruptcy code, and added that an 81 pct of companies that are active in sectors that concern GSEVEE are facing serious debt issues after the coronavirus pandemic stalled economic activity.

The economic climate index fell 40 points, added Kavathas, "dragging down all indicators, such as turnover, employment and investments, resulting to a return to levels of economic performance akin to the height of the 2012-2013 financial crisis," he stressed.

 

RELATED

ATHENS - Turkey’s tactics to get the upper hand in its claims to Greek territories after repeatedly sending fighter jets over Greek islands and waters is to claim that Greece is violating Turkish airspace.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…to Amyntaio, a TNH Documentary by Clelia Charissis

Dear readers, let me briefly introduce myself, while wishing you "a summer full of positive energy and good health.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.